Mentha oil moves up on export demand

Mentha oil moved up by Rs 7.50 to Rs 1,179 per kg in futures market today on pick up in domestic as well as exports demand.

Restricted arrivals from producing region in the physical market fueled the uptrend.

At the Multi Commodity Exchange, mentha oil for February rose by Rs 7.50, or 0.64 per cent to Rs 1,179 per kg, clocked a business volume of single lot.

Similarly, the oil for delivery in January gained Rs 5.50, or 0.47 per cent, to Rs 1,177.50 per kg, with an open interest of one lot.

Marketmen said pick up in domestic as well as exports demand against less arrivals led to the rise in mentha oil prices at futures trade.

They said increased offtake by pharmaceutical units also supported the uptrend.