Mentha oil falls by 0.5% on profit-booking
Speculators booked profits at prevailing higher levels amidst sluggish demand from consuming industries in the spot market
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Mentha oil prices declined by 0.50% to Rs 798.50 per kg in futures trading today as speculators booked profits at prevailing higher levels amidst sluggish demand from consuming industries in the spot market.
Besides, adequate stock position in the physical market on increased supplies from producing belts put pressure on mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in March eased by Rs 4, or 0.50%, to Rs 798.50 per kg in a business turnover of 317 lots.
Similarly, the oil for delivery in April shed Rs 3.20, or 0.39% to Rs 809.50 per kg in 277 lots.
Analysts attributed the fall in mentha oil futures to profit-booking by speculators at existing levels and a decline in demand from consuming industries in the spot market.
Besides, adequate stock position in the physical market on increased supplies from producing belts put pressure on mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in March eased by Rs 4, or 0.50%, to Rs 798.50 per kg in a business turnover of 317 lots.
Similarly, the oil for delivery in April shed Rs 3.20, or 0.39% to Rs 809.50 per kg in 277 lots.
Analysts attributed the fall in mentha oil futures to profit-booking by speculators at existing levels and a decline in demand from consuming industries in the spot market.
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First Published: Mar 23 2015 | 11:32 AM IST