Mentha oil rises on industrial demand

Mentha oil prices rose by Rs 7 to Rs 1,215.50 per kg in futures trade today, as speculators enlarged their holdings tracking a rising industrial demand in spot markets against restricted supply.

At the Multi Commodity Exchange, the December contract for mentha oil rose by Rs 7, or 0.57%, to Rs 1,215.50 per kg, clocking a business volume of 192 lots.

The November contract traded higher by Rs 6.50, or 0.54%, to Rs 1,201.80 per kg, with a trading volume of 1,020 lots.

Analysts 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.

Rising demand from pharmaceutical Industries also kept mentha oil prices higher in the futures market, they said.