Mentha oil futures slip 2.04 pc on profit-booking

Mentha oil prices drifted lower by 2.04 per cent to Rs 1,158 per kg in futures market today as speculators booked profits, driven by fading demand from consuming industries at the spot markets.
Ample stocks position on higher supplies from producing regions also fuelled the downtrend.
At the Multi Commodity Exchange, mentha oil for delivery in September month fell by Rs 24.10, or 2.04 per cent, to Rs 1,158 per kg in business turnover of 97 lots.
On similar lines, the oil for delivery in August month contracts traded lower by Rs 22.70, or 1.94 per cent to Rs 1,147 per kg in 529 lots.

Marketmen said besides profit-booking by participants, decline in demand from consuming industries at existing levels in spot market and ample stocks position on higher supplies from Chandausi in Uttar Pradesh pulled down mentha oil prices in futures trade.