Mentha oil futures weaken on profit booking

Mentha oil turned weak and futures prices fell by Rs 3.50 to Rs 1,159.50 per kg today, as traders indulged in profit booking amid weak trend at spot markets. 

Adequate stocks following increased arrivals in the physical market fuelled the downtrend.

At the Multi Commodity Exchange, mentha oil for January declined by Rs 3.50, or 0.30 per cent, to Rs 1,159.50 per kg, with a business turnover of two lots.

Similarly, the oil for delivery in February shed Rs 2.50, or 0.21 per cent, to Rs 1,160.40 per kg, with a business volume of two lots. 

The fall in mentha oil prices was due to profit booking by speculators and weak trend at the spot market on sluggish demand, traders said.