Mentha oil prices declined by Rs 10.50 to Rs 1,360.80 per kg in futures trade today as speculators booked profits at current levels, driven by a weak trend at the spot market on sluggish demand.
Adequate stocks in the physical market following increased arrivals from Chandousi in Uttar Pradesh fuelled the downtrend in mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in September declined by Rs 10.50, or 0.77%, to Rs 1,360.80 per kg, with a business turnover of 331 lots.
The August contract lost Rs 9.50, or 0.70%, to Rs 1,339.20 per kg, with a business turnover of 1,152 lots.
Marketmen attributed the decline in mentha oil futures to profit-booking by speculators at existing higher levels, driven by sluggish demand from pharmaceutical units.
