Mentha oil down 0.57% on profit-booking

Increased arrivals from Chandausi in Uttar Pradesh add to downward pressure on prices

Mentha oil prices were down by 0.57 per cent to Rs 681 per kg in futures trading today as speculators booked profits at prevailing higher levels amid sluggish demand from consuming industries in the spot market.

Besides, adequate stocks position in the physical market on increased arrivals from Chandausi in Uttar Pradesh, put pressure on prices.

At the Multi Commodity Exchange, mentha oil for delivery in October fell by Rs 3.90, or 0.57 per cent, to Rs 681 per kg in a business turnover of 223 lots.

Similarly, the oil for delivery in November traded lower by Rs 3.60, or 0.52 per cent, to Rs 691.50 per kg in 151 lots.
 
Analysts attributed the fall in mentha oil futures to profit-booking by speculators at existing levels and subdued demand from consuming industries in the spot market.