Mentha oil up as demand rises in spot market

Mentha oil prices gained Rs 5.30, or 0.73 per cent, to Rs 726.60 per kg in futures trading today, as traders created fresh positions, driven by pick up in demand at spot markets.

Restricted arrivals in the physical market also influenced the mentha oil futures prices.

At the Multi Commodity Exchange, mentha oil for September-month contract gained Rs 5.30, or 0.73 per cent, to Rs 726.60 per kg, with a trading volume of 36 lots, while July delivery declined by Rs 4.20, or 0.61 per cent, to Rs 687.80 per kg, with a business volume of 192 lots.

Similarly, the oil for delivery in August edged up by Rs 3.90, or 0.54 per cent, to Rs 716.40 per kg, with a business turnover of 243 lots.

Marketmen said fresh buying by traders followed by pick up in spot demand and lower arrivals from Chandausi market in Uttar Pradesh pushed up mentha oil prices at futures trade.