Mentha oil declines on profit-taking

Written by Agencies | New Delhi | Updated: Jan 31 2011, 23:03pm hrs
Mentha oil prices moved down by Rs 10.20 to Rs 1,156.50 per kg in futures trade on Monday, as speculators booked profits amid subdued demand in the spot market.

Adequate stocks position following increased arrival from the producing region also put pressure on the mentha oil prices.

At the Multi Commodity Exchange, mentha oil for January fell by Rs 10.20, or 0.87 per cent to Rs 1,156.50 per kg, with a business turnover of two lots.

Similarly, the oil for delivery in February moved down by Rs 9.70, or 0.83 per cent, to Rs 1,161.90 per kg, with an open interest of single lot.

Market anlysts said besides profit-booking by speculators, fall in demand in the spot market led to the decline in mentha oil prices at futures trade.