Mentha oil futures fall 0.73% on profit-booking

Mentha oil prices drifted lower by 0.73 per cent to Rs 1,681 per kg in futures trading today as speculators booked profits at prevailing levels.

Besides, ample stocks position on higher supplies from major producing belts of Chandausi in Uttar Pradesh too weighed on prices.

At the Multi Commodity Exchange, mentha oil for delivery in February declined Rs 12.40, or 0.73 per cent, to Rs 1,681 per kg in business turnover of 28 lots.

Similarly, the oil for delivery in January contracts shed Rs 11.30, or 0.68 per cent, to Rs 1,660.50 per kg in 133 lots.

Analysts said besides profit-booking by participants at existing levels, fall in demand from consuming industries in the physical market against sufficient stocks position on increased arrivals from Chandausi in Uttar Pradesh led to the fall in mentha oil prices in futures trade.