Mentha oil staged a comeback to trade Rs 4 higher at Rs 1,334.50 per kg in the futures market today as traders created fresh positions, driven by a pick-up in industrial demand in the spot market.
Restricted arrivals from the major producing region of Chandausi, in Uttar Pradesh, also supported the rise in mentha oil futures prices.
At the Multi Commodity Exchange, mentha oil for delivery in December moved up by Rs 4, or 0.30%, to Rs 1,334.50 per kg in 93 lots.
Similarly, for November contract delivery the oil gained Rs 2.90, or 0.22%, to Rs 1,316.10 per kg in 20 lots.
Market analysts said a firming trend in the spot market following a pick-up in industrial demand amid low arrivals from Chandausi mainly assisted the rise in mentha oil prices in the futures market.
