Mentha oil slips

| Updated on: Apr 28, 2011

Mentha oil prices fell further by Rs 11.40 to Rs 1,061.50 a kg in futures trade today as traders indulged in profit-booking at existing higher levels amid fall in spot market demand.

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

At the Multi Commodity Exchange, mentha oil for April delivery contract declined by Rs 11.40 or 1.06 per cent to Rs 1,061.50 a kg, with a business volume of 26 lots.

Similarly, the oil for delivery in May eased by Rs 10.10 or 0.95 per cent to Rs 1,043.10 a kg with a business turnover of 70 lots.

Mentha oil futures prices for delivery in June declined by Rs 7 or 0.73 per cent to Rs 942.80 a kg with an open interest of 29 lots.

Traders said the fall in oil prices was mostly due to profit-taking by speculators amid fall in demand in the spot market.

Published on April 28, 2011

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