 "Mentha oil extends losses on profit-booking")
Mentha oil prices extended losses for the fourth-straight day by losing 1.02 per cent to Rs 847.40 per kg in futures trade today as speculators booked profits, driven by weak demand from consuming industries in the spot market.
Adequate stocks availability in the physical market on increased arrivals from producing regions also put pressure on mentha oil.
At the Multi Commodity Exchange, mentha oil for delivery in March fell further by Rs 8.70, or 1.02 per cent to Rs 847.40 per kg in business turnover of 61 lots.
Analysts said besides profit-booking by speculators, weak demand from consuming industries in the spot market against increased arrivals from Chandausi in Uttar Pradesh mainly influenced mentha oil prices at futures trade.
Adequate stocks availability in the physical market on increased arrivals from producing regions also put pressure on mentha oil.
At the Multi Commodity Exchange, mentha oil for delivery in March fell further by Rs 8.70, or 1.02 per cent to Rs 847.40 per kg in business turnover of 61 lots.
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The April contract shed Rs 7, or 0.81 per cent to Rs 859 per kg in 237 lots.
Analysts said besides profit-booking by speculators, weak demand from consuming industries in the spot market against increased arrivals from Chandausi in Uttar Pradesh mainly influenced mentha oil prices at futures trade.