Mentha down on profit-taking

PTI New Delhi | Updated on May 10, 2011 Published on May 10, 2011

Mentha oil prices fell further by Rs 9.50 to Rs 946 a kg in futures trade today as traders indulged in profit-booking at existing high levels, driven by fall in demand in the spot market.

Increased arrivals from producing belts in Uttar Pradesh also put pressure on the prices.

At the Multi Commodity Exchange, mentha oil for delivery in May declined by Rs 9.50 or 0.99 per cent to Rs 946 a kg, with a business volume of a single lot.

Similarly, the oil for delivery in July eased by Rs 8.60 or 0.95 per cent to Rs 897 a kg with a business turnover of 144 lots.

Mentha oil prices for delivery in June declined by Rs 8.10 or 0.89 per cent to Rs 901 a kg with a business volume of 157 lots.

Traders said the fall in prices was mostly due to profit-taking by speculators on the back of fall in spot market demand.

Published on May 10, 2011
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