Mentha down by 0.8% on profit-booking

Mentha oil futures drifted 0.81% to Rs 893.30 per kg today as speculators locked-in gains at prevailing levels amid increased arrivals of the commodity in the physical market from the major producing belts in Uttar Pradesh.

At the Multi Commodity Exchange, mentha oil for delivery in October declined Rs 7.30, or 0.81%, to Rs 893.30 per kg, in a business turnover of 84 lots.

Likewise, the oil for delivery in November traded lower by Rs 6.60, or 0.72%, to Rs 905.50 per kg in 357 lots.

The fall in mentha futures was mostly due to profit-booking by speculators after recent gains and rising supplies from growing regions against sluggish demand in spot markets from pharmaceutical units, analysts said.