Mentha oil futures drop 1.23% on profit-booking

NEW DELHI, Jan 12: Mentha oil prices fell 1.23 per cent to Rs 1,649.60 per kg in futures trade as speculators booked profits at prevailing levels amid easing demand in the spot market.
Besides, ample stocks on higher supplies from major producing belts of Chandausi in Uttar Pradesh, too, weighed on prices.
At the Multi Commodity Exchange, mentha oil for delivery in January moved Rs 20.50, or 1.23 per cent lower to Rs 1,649.60 per kg in business turnover of 133 lots.
Likewise, the oil for delivery in February contracts lost Rs 20.30, or 1.20 per cent, to Rs 1,669.30 per kg in 37 lots.
Analysts said besides profit-booking by participants at existing levels, decline in demand from consuming industries in the physical market against sufficient stocks position on increased arrivals from Chandausi in Uttar Pradesh, led to the fall in mentha oil prices. (PTI)