Mentha oil futures down 0.64% on profit-booking

Mentha oil moved down by 0.64 percent to Rs 1,734.50 per kg in futures market today as speculators booked profits, driven by a fall in demand at the spot market.

Besides, adequate stocks position in the spot markets on higher supplies from major producing belts of Chandausi in Uttar Pradesh too fuelled the downtrend.

At the Multi Commodity Exchange, mentha oil for delivery October month fell by Rs 11.10, or 0.64 percent, to Rs 1,734.50 per kg in business turnover of 17 lots.

Likewise, the oil for delivery in September contracts shed Rs 8.60, or 0.50 percent, to Rs 1,714 per kg in 137 lots.

Analysts said besides profit-booking by participants, fall in demand from consuming industries at spot market against ample stocks position weighed on mentha oil futures.