Mentha oil rise 1.2% on fresh buying

Mentha oil futures prices today rose by 1.09% to Rs 914.40 per kg as speculators enlarged their positions, tracking a firm trend at spot market on strong retailers and export demand.

 

The trading sentiment improved further as tight supplies in the spot markets due to less arrivals from growing belts of Chandausi in Uttar Pradesh.

 

At the Multi Commodity Exchange, mentha oil for delivery in July gained Rs 9.90, or 1.09%, to Rs 914.40 per kg, with a trading volume of 854 lots.

 

Similarly, the oil prices for delivery in August rose by Rs 9.40, or 1.02%, to Rs 927 per kg, with a business turnover of 261 lots.

 

Marketmen said a firming trend at the spot markets amid restricted supplies from producing regions mainly influenced mentha oil prices at futures trade here.