Comments
Mentha oil turned weak and futures prices fell by Rs 3.50 to Rs 1,159.50 a kg on Tuesday, as traders indulged in profit booking amid weak trend at the spot markets.
Adequate stocks following increased arrivals in the physical market fuelled the downtrend. At the Multi Commodity Exchange, mentha oil for January declined by Rs 3.50 or 0.30 per cent to Rs 1,159.50 a kg, with a business turnover of two lots.
Similarly, the oil for delivery in February shed Rs 2.50 or 0.21 per cent to Rs 1,160.40 a kg, with a business volume of two lots.
The fall in prices was due to profit booking by speculators and weak trend at the spot market on sluggish demand, traders said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.