Mentha oil futures weaken on profit booking

PTI New Delhi | Updated on March 09, 2011

Mentha oil fell by Rs 8.20 to Rs 964.20 a kg in futures trading today on continued profit booking by speculators driven by subdued spot demand.

At the Multi Commodity Exchange, mentha oil for delivery in May slid by Rs 8.20 or 0.84 per cent to Rs 964.20 a kg, with an open interest of a single lot.

Similarly, oil prices for delivery in March eased by Rs 3.30 or 0.29 per cent to Rs 1,133.50 a kg, with a business turnover of two lots.

Traders attributed the fall in prices to continued profit-booking by speculators along with a weak trend at the spot market on subdued demand.

Adequate stocks following increased arrivals from producing belts in Uttar Pradesh also put pressure on prices, they added.

Published on March 09, 2011

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor