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Journalism of Courage
Mentha oil prices fell by Rs 4 to Rs 1,200 per kg in futures trade today as speculators booked profits at prevailing higher levels amid sluggish spot market demand.
Adequate stocks position following increased arrivals from major producing centre of Chandousi in Uttar Pradesh also put pressure on mentha oil prices.
At the Multi Commodity Exchange,mentha oil for delivery in October declined by Rs 4,or 0.33 per cent,to Rs 1,200.70 per kg,with a business turnover of 58 lots.
In a similar fashion,the oil for delivery in November shed Rs 3.90,or 0.33 per cent,to Rs 1,185.90 per kg,with a business turnover of 196 lots.
Marketmen attributed the fall in mentha oil futures to profit-booking by speculators at prevailing higher levels,weak demand from consuming industries in the spot market.
