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This is an archive article published on January 5, 2011

Mentha oil futures slips on profit booking

Mentha oil continued its slide as prices fell by Rs 9.50 to Rs 1,571 per kg in futures trading.

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Mentha oil continued its slide as prices fell by Rs 9.50 to Rs 1,571 per kg in futures trading on Wednesday,as speculators were busy in profit booking following a fall in demand in the spot market.

Adequate stocks in the physical market and increased arrivals from Chandousi market in Uttar Pradesh influenced the trading sentiment.

At the Multi Commodity Exchange counter,Mentha oil for February-month delivery fell by Rs 9.50,or 0.80 per cent,to Rs 1,171.50 per kg,with a business turnover of just one lot.

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Likewise,the oil for delivery in January declined by Rs 7.70,or 0.62 per cent,to Rs 1,167.70 per kg,with an open interest of a single lot.

Traders said fall in demand in the spot market against increased arrivals from Chandousi in Uttar Pradesh led to a fall in the mentha oil futures prices.

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