Mentha oil futures down 1.58% on profit-booking

Mentha oil prices drifted lower by 1.58 per cent to Rs 1,838 per kg in futures trade today as speculators booked profits at prevailing levels amid fall in demand from consuming industries at the spot markets.
Besides, ample stocks position on higher supplies from major producing belts of Chandausi in Uttar Pradesh fuelled the downtrend.
At the Multi Commodity Exchange, mentha oil for delivery in December month fell by Rs 29.50, or 1.58 per cent to Rs 1,838 per kg in business turnover of 354 lots.
On similar lines, the oil for delivery in January 2018 declined by Rs 23.90, or 1.26 per cent to Rs 1,867.70 per kg in 41 lots.

Analysts said besides profit-booking by participants at existing levels, decline in demand from consuming industries in the physical market against sufficient stocks position on increased arrivals from Chandausi in Uttar Pradesh mainly led to the fall in mentha oil prices at futures trade.