Mentha oil up 0.4% on rising demand

Mentha oil prices moved up by another 0.37% to Rs 863.50 per kg in futures trade today as traders enlarged positions on the back of rising demand from consuming industries in the spot market.

Besides, tight stocks position on restricted arrivals from major producing regions fuelled the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in far-month July rose by Rs 3.20, or 0.37% to Rs 863.50 per kg in business turnover of 6 lots.

Likewise, the oil for delivery in June contracts edged up by Rs 2.10, or 0.25% to Rs 852 per kg in 52 lots.

Analysts said besides surging demand from consuming industries in the spot markets, tight stocks position on restricted supplies from Chandausi in Uttar Pradesh kept mentha oil prices higher at futures trade.