Mentha oil futures extend losses on low demand, high supply
Agencies: New Delhi, Dec 13 2012, 13:51 IST
Mentha oil futures prices fell for the second session today and declined by Rs 13.90 to Rs 1,416.10 per kg as speculators booked profits at prevailing higher levels amid weak spot demand.
Adequate stocks position in the physical market following increased arrivals from Chandousi in Uttar Pradesh also fuelled the downtrend in mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in December fell by Rs 13.90, or 0.97 per cent, to Rs 1,416.10 per kg, with a business turnover of Rs 512 lots.
Similarly, the oil for delivery in January declined by Rs 11.30, or 0.78 per cent, to Rs 1,436 per kg in 118 lots.
Marketmen attributed the fall in mentha oil futures to profit-booking by speculators after recent gains and a weak industrial demand in the spot market.
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