Mentha oil turns weak on profit-booking

Mentha oil prices fell by Rs 4.40 to Rs 1,278.20 per kg in futures trade today, as traders indulged in profit-booking, driven by subdued demand in the spot markets.

At the Multi Commodity Exchange platform, mentha oil for delivery in December contract declined by Rs 4.40 or 0.35 per cent to Rs 1,278.20 per kg in a business volume of 912 lots.

Similarly, the delivery in January month contract eased by Rs 3.40, or 0.27 per cent to Rs 1,283.70 per kg, with a business turnover of 149 lots, while February contract fell by Rs 40 paise or 0.03 per cent to Rs 1,288.10 per kg, with a business volume of 10 lots. 

The fall in mentha oil prices was mostly due to profit-booking by speculators and weak trend at spot market on subdued demand, traders said.