 "Mentha oil drops by 2.1% on ample stocks")
Mentha oil futures fell 2.07% to Rs 792.50 per kg today as speculators locked in gains at prevailing levels amid increased arrivals in the physical market from major producing belts.
Sentiment weakened further as investors booked profits in the midst of a fall in demand in the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in March declined by Rs 16.80, or 2.07%, to Rs 792.50 per kg in a business turnover of 103 lots.
The fall in mentha futures was mostly due to profit booking by speculators after recent gains and sluggish demand in spot market from pharmaceutical units, analysts said.
Sentiment weakened further as investors booked profits in the midst of a fall in demand in the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in March declined by Rs 16.80, or 2.07%, to Rs 792.50 per kg in a business turnover of 103 lots.
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Likewise, the oil for delivery in April traded lower by Rs 7.60, or 0.92%, to Rs 811.30 per kg in 456 lots.
The fall in mentha futures was mostly due to profit booking by speculators after recent gains and sluggish demand in spot market from pharmaceutical units, analysts said.