Mentha oil rises 0.39% on strong demand

Traders create fresh positions as lower arrivals from producing area support uptrend

Mentha oil prices were up by 0.39 per cent to Rs 771 per kg in futures trading today, as speculators created fresh positions, tracking a firm trend at spot market on increased demand.

Besides, restricted arrivals from Chandausi in Uttar Pradesh supported the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in June rose by Rs 3, or 0.39 per cent, to Rs 771 per kg in business turnover of 177 lots.

The July contract traded higher by Rs 2.60, or 0.33 per cent, to Rs 783.50 per kg in 69 lots.

Analysts said besides increased demand from consuming industries in the spot market, restricted arrivals from Chandausi in Uttar Pradesh mainly led to the rise in mentha oil prices in futures trade.