Mentha oil rises on physical demand

Mentha oil prices rose further by Rs 24.80 to Rs 1,004 per kg in futures trade today on the back of rising demand in the physical market against restricted arrivals.

At the Multi Commodity Exchange, mentha oil for delivery in July rose by Rs 24.80, or 2.53%, to Rs 1,004 per kg, with a business volume of 935 lots.

The oil prices for August delivery added Rs 24.90, or 2.51%, to Rs 1,013.40 per kg, with a trade volume of 542 lots.

The September contract surged by Rs 21, or 2.10%, to Rs 1,018 per kg in 190 lots.

Market analysts said increased buying by speculators on rising spot market demand helped mentha oil prices futures to trade higher.

In addition, restricted arrivals in the spot market from Chandausi in Uttar Pradesh, further fuelled the uptrend.