Mentha oil futures slip on profit-booking

New Delhi, Sep 11 (PTI) Mentha oil futures dipped 1.71 percent to Rs 1,781.40 per kg in futures market Tuesday as speculators booked profits at prevailing levels amid fall in demand.

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

At the Multi Commodity Exchange, mentha oil for delivery in the current month drifted lower by Rs 31.10, or 1.71 percent, to Rs 1,781.40 per kg in a business turnover of 219 lots.

Similarly, the oil for delivery in October was trading lower by Rs 21.70, or 1.18 percent, to Rs 1,814 per kg in 35 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.