Mentha oil gains by 0.4% on spot demand

Mentha oil prices were up by 0.37% to Rs 868 per kg in futures trade today as speculators indulged in creating fresh positions due to pick up in demand from consuming industries at spot market.

At the Multi Commodity Exchange, mentha oil for delivery in far-month November rose Rs 3.20, or 0.37%, to Rs 868 per kg, in business turnover of 98 lots.

Similarly, the oil for delivery in October traded higher by Rs 1.70, or 0.20%, to Rs 855.80 per kg in 560 lots.

Market analysts said fresh positions built up by participants, driven by rising demand in the spot market amid restricted supplies from producing regions, mainly influenced mentha oil prices at futures trade.