Mentha oil up on heavy demand in spot market

Mentha oil prices gained by Rs 10 to Rs 1,119.40 per kg in futures trade today, as traders created fresh positions, driven by pick up in demand at local markets.

Restricted arrivals in the physical market from producing regions of Uttar Pradesh also influenced the mentha oil futures prices.

At the Multi Commodity Exchange platform, mentha oil for delivery in December-month gained by Rs 10, or 0.91 per cent to Rs 1,119.40 per kg, with a trading volume of 1,339 lots, while February contract edged up by Rs 9.00 or 0.70 per cent to Rs 1,138 per kg, with a business turnover of 38 lots. 

Similarly, the oil for delivery in January-month rose by Rs 8, or 0.70 per cent to Rs 1,132.50 per kg, with a business turnover of 313 lots.

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