Mentha oil declines on profit booking, low demand

NEW DELHI: Mentha oil prices declined in Wednesday's trade as participants booked profits amid easing demand from consuming industries at the spot markets.

Around 11:55 am, the MCX Mentha oil was trading at Rs 1,617 per kilo, down by Rs 38.70.

Off-loading of positions by participants due to profit-booking by speculators amid subdued demand from consuming industries at the domestic spot markets, led to the fall in mentha oil prices at futures trade.

Precious metals gold and silver, too, were trading in the lower terrain on the MCX. "For today, on MCX, gold is expected to quote in range of Rs 30,750 and Rs 31,150," said Motilal Oswal Securities.

Among the agri commodities, Soybean futures (December) is expected to trade with an upside bias in the range of Rs 3,385-3,450 levels, said SMC Global. Mustard futures (December) will possibly continue it fall & test Rs 4,050-4,030 levels, the brokerage added.

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