Mentha futures succumb to profit-booking, down 0.8%

Amid profit-booking by speculators, mentha oil futures drifted 0.76 per cent to Rs 902.90 per kg today on sluggish demand from consuming industries at the domestic spot market.

Further, ample stocks position on higher supplies from Chandausi in Uttar Pradesh, too fuelled the downtrend.

At the Multi Commodity Exchange, mentha oil for delivery in December declined Rs 7, or 0.76 per cent, to Rs 902.90 per kg, in a business turnover of 68 lots.

Likewise, the oil for delivery in November traded lower by Rs 5.50, or 0.61 per cent, to Rs 891.70 per kg in 296 lots.

Marketmen attributed fall in mentha oil at futures trade to profit-booking by participants coupled with muted demand at the domestic spot markets against huge stocks.