Mentha oil falls 3 pc on profit-booking

NEW DELHI: Mentha oil prices fell by Rs 41.90 to Rs 1,355.20 per kg in futures trade today as traders indulged in profit-booking, driven by subdued spot demand.

In addition, reports of higher arrivals of the fresh crop and higher production estimates weighed on the prices.

At the Multi Commodity Exchange, mentha oil for delivery in July fell by Rs 41.90, or 3 per cent, to Rs 1,355.20 per kg, with a business volume of 70 lots.

Similarly, mentha oil prices for June delivery drifted by Rs 41.40, or 3 per cent, to Rs 1,338.70 per kg, with a business turnover of 147 lots.

The fall in mentha oil prices at futures trade was mostly due to profit-booking by speculators and a weak trend at spot markets on subdued demand, traders said.