Mentha oil softens by 0.2% on profit-booking

Adequate stocks availability in the physical market also affected prices

Mentha oil prices declined by 0.20% to Rs 782 per kg in futures trading today as speculators indulged in profit-booking at existing higher levels amid sluggish demand from consuming industries in the spot market.

Besides, adequate stocks availability in the physical market following increased arrivals from Chandousi in Uttar Pradesh put pressure on mentha oil.

At the Multi Commodity Exchange, mentha oil for delivery in March declined by Rs 1.60, or 0.20% to Rs 782 per kg in business turnover of 111 lots.

Similarly, the oil for February delivery shed 40 paise, or 0.05% to Rs 772.90 per kg in 247 lots.
 
The weakness in mentha oil prices at futures trade was mostly due to profit-booking by speculators at existing higher levels amid sluggish demand from consuming industries in the spot market, analysts said.