Mentha oil extend losses, falls 2.96% on low demand

NEW DELHI: Mentha oil prices fell by 2.96 per cent to Rs 1,150 per kg, extending losses for the third straight day, as speculators engaged in reducing their positions amid increased arrivals in the physical market from the major producing belts in Uttar Pradesh.

Besides, profit-booking also put pressure on the prices. At the Multi Commodity Exchange, mentha oil for delivery in March fell Rs 35.10, or 2.96 per cent, to Rs 1,150 per kg, with a business volume of 488 lots.

Similarly, mentha for delivery in April traded Rs 29.90, or 2.51 per cent lower at Rs 1,159.10 per kg, with a trading volume of 234 lots.

Traders said the fall in mentha prices at futures market was mostly weak due to demand against increased arrivals from producing regions of Chandausi in Uttar Pradesh.

They said profit-booking at prevailing levels also kept pressure on the prices.