Business Standard

Mentha oil falls 1.24% on profit-booking

Adequate stocks availability in the physical market also put pressure on prices

Image

Press Trust of India New Delhi

Amid profit-booking by speculators and weak demand from pharmaceutical units in the spot market, mentha oil prices fell by 1.24% to Rs 1,312 per kg in futures trading.

In addition, increased arrivals from Chandousi in Uttar Pradesh also put pressure on mentha oil futures prices.

At the MCX, mentha oil for delivery in June fell by Rs 16.50, or 1.24% to Rs 1,312 per kg in business turnover of 289 lots.

The July contact lost Rs 13.80, or 1.03% to Rs 1,329.60 per kg in 79 lots.

Market analysts said besides profit-booking by speculators, subdued demand from pharmaceutical units in the spot market mainly pulled down mentha oil prices at futures trade.

 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 06 2012 | 1:50 PM IST

Explore News