Mentha oil gains 0.3% on rising spot demand

Mentha oil prices traded up by 0.33% to Rs 846.40 per kg in futures trading today after speculators enlarged positions amid a firming trend at spot market on the back of pick up in demand.

 

Besides, tight stocks position in physical market due to less arrivals from producing regions also supported the uptrend.

 

At the Multi Commodity Exchange, mentha oil for delivery in November gained Rs 2.80, or 0.33%, to Rs 846.40 per kg in business turnover of 55 lots.

 

Similarly, oil for delivery in December edged up by Rs 1.30, or 0.15% to Rs 857 per kg in 4 lots.

 

Analysts said a firming trend at the spot markets supported by increased demand from consuming industries against tight supplies following less arrivals from Chandausi in Uttar Pradesh mainly led to rise in mentha oil prices at futures trade.