Profit-booking, ample stocks drag down mentha oil by 4%

NEW DELHI, Oct 6:  Mentha oil futures drifted by 4 per cent to Rs 847.20 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 futures trading at the Multi Commodity Exchange, mentha oil for delivery in November declined Rs 35.30, or 4 per cent, to Rs 847.20 per kg in a business turnover of 162 lots.
Likewise, the oil for delivery in October traded lower by Rs 33.80, or 3.88 per cent, to Rs 836.30 per kg in 1,041 lots.
The fall in mentha futures was mostly due to profit-booking by speculators after recent gains and adequate stocks following increased arrivals from growing regions in Uttar Pradesh, analysts said. (PTI)