MUMBAI (Commodity Online): Mentha oil futures declined Monday on profit booking by the traders on the back of sluggish demand in domestic as well as overseas buyers.
Exporters were reportedly waiting for some corrections before initiating fresh demand in the markets.
In MCX mentha oil February contract closed at Rs.1525.80 per Kg, a decline of 1.71 per cent against the previous close.
In the morning session the contract traded at a range of Rs.1515.20-1566.50 per Kg. Open interest of the contract stood at 4059 lots and volume traded is 8389 lots.
Industries was noted. Traders expect an overall Bullish trend to prevail in the markets as arrivals in the mandis remained moderately low. The trend is likely to remain volatile in the short term as the higher levels too have not been sustainable. But medium term sentiments look positive on an expected pick up in demand in coming weeks.
