Mentha oil down 1.1% on profit booking

Oil for delivery in August contracts declined by 1.07%

Mentha oil prices were down by 1.10 per cent to Rs 917.60 per kg in futures trading today as speculators booked profits at prevailing levels amid easing demand from consuming industries at spot market.

Besides, adequate stocks position in the physical markets on increased arrivals from producing regions put pressure on mentha oil.

At the Multi Commodity Exchange, mentha oil for delivery in September month fell by Rs 10.20, or 1.10 per cent to Rs 917.60 per kg in business turnover of 12 lots.

Similarly, the oil for delivery in August contracts declined by Rs 9.80, or 1.07 per cent to Rs 905.60 per kg in 109 lots.
 
Analysts said besides profits booking by speculators, fall in demand from consuming industries in the spot market against increased arrivals from Chandausi in Uttar Pradesh, mainly led to decline in mentha oil prices at futures trade.