Mentha oil futures decline 1.78% on profit-booking

NEW DELHI: Mentha oil prices fell by 1.78 per cent to Rs 1,011 per kg in futures trade today as speculators indulged in profit-booking amid subdued spot demand.

Besides, adequate stocks position following increased arrivals from Chandausi in Uttar Pradesh, weighed on prices.

At the Multi Commodity Exchange, mentha oil for delivery in July fell by Rs 18.40, or 1.78 per cent, to Rs 1,011 per kg, with a business volume of 199 lots.

Similarly, mentha oil prices for the June delivery drifted by Rs 16.20, or 1.58 per cent, to Rs 1,004 per kg, with a business turnover of 579 lots.

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