Mentha oil prices fall on profit-booking

NEW DELHI: Mentha oil prices fell by Rs 73.50 to Rs 2,375.90 per kg in futures trade today as traders indulged in profit-booking, driven by subdued physical demand.

Increased arrivals from the major producing belt of Chandousi in Uttar Pradesh also put downward pressure on prices and subdued industrial demand for mentha oil also dampened sentiment and weighed on prices of the commodity.

At the Multi Commodity Exchange, mentha oil for delivery in May fell further by Rs 73.50, or 3 per cent, to Rs 2,375.90 per kg with a business volume of 177 lots.

Similarly, mentha oil prices for April delivery drifted by Rs 26.40, or 1.09 per cent, to Rs 2,382.20 per kg with a business turnover of 334 lots.

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

They said less industrial demand for the commodity also influenced the prices.