Spot demand lifts mentha oil by 0.30%

Restricted supplies from producing belts supports upside

Mentha oil prices edged higher by 0.30% to Rs 895 per kg in futures trade today on higher demand from spot markets.

Besides, tight stock position in physical markets on restricted supplies from producing region supported the upside.

At the Multi Commodity Exchange, mentha oil for delivery in October month rose Rs 2.70, or 0.30%, to Rs 895 per kg in business turnover of 172 lots.

Similarly, the oil for delivery in October shed Rs 2, or 0.22%, to Rs 907.10 per kg in 88 lots.

Analysts said pick up in demand from consuming industries in the spot market, restricted supplies from Chandausi in Uttar Pradesh, mainly led to rise in mentha oil prices at futures trade.