 "Mentha oil declines by 0.5% on profit booking")
Mentha oil eased by 0.48% to Rs 965 per kg in futures trading today as speculators booked profits at current levels amid subdued demand from consuming industries at the spot market.
Besides, adequate stocks position in the physical market on higher supplies from producing regions put pressure on mentha oil.
At the Multi Commodity Exchange, mentha oil for delivery in September moved down by Rs 4.70, or 0.48% to Rs 965 per kg in a business turnover of 91 lots.
Analysts said besides profit booking by speculators, easing demand from consuming industries at the spot market against increased arrivals from Chandausi in Uttar Pradesh, mainly weighed on mentha oil prices in futures trade.
Besides, adequate stocks position in the physical market on higher supplies from producing regions put pressure on mentha oil.
At the Multi Commodity Exchange, mentha oil for delivery in September moved down by Rs 4.70, or 0.48% to Rs 965 per kg in a business turnover of 91 lots.
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The oil for delivery in August traded lower by Rs 4.30, or 0.45% to Rs 953.50 per kg in 307 lots.
Analysts said besides profit booking by speculators, easing demand from consuming industries at the spot market against increased arrivals from Chandausi in Uttar Pradesh, mainly weighed on mentha oil prices in futures trade.