Mentha oil futures down on profit-booking

NEW DELHI: Mentha oil extended losses for the second straight day by losing Rs 16.70 to Rs 1,362.90 per kg in futures trade today, as speculators booked profits amid a weak spot demand.

Further, increased arrivals from Chandousi in Uttar Pradesh also influenced mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in July fell further by Rs 16.70, or 1.21 per cent, to Rs 1,362.90 per kg in business turnover of 175 lots.

Similarly, the oil for delivery in June lost Rs 13.50, or 0.99 per cent, to Rs 1,348.70 per kg in 613 lots.

Market analysts said the fall in mentha oil prices at futures trade was mostly due to continued profit-booking by speculators and weak demand from pharmaceutical units in the spot market.