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Mentha oil extends losses, down 2% on profit-booking

Fresh arrivals from major producing regions keep futures prices in negative zone

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Press Trust of India New Delhi

Mentha oil futures prices fell by Rs 25 to Rs 1,232.10 per kg in futures trade today as traders engaged in booking profits amid weak spot demand.

Fresh arrivals from the major producing regions also kept the futures prices in negative zone.

At the Multi Commodity Exchange, mentha for delivery in June fell further by Rs 25, or 1.98%, to Rs 1,232.10 per kg, with a business volume of 300 lots.

The July contract declined by Rs 15.50, or 1.21%, to Rs 1,260 per kg, with a business turnover of 305 lots.

The fall in mentha oil prices at futures trade was mostly due to profit-booking by speculators amid a weak trend at spot markets on subdued demand from the pharmaceutical industries, traders said.

 

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First Published: Jun 26 2012 | 1:50 PM IST

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