Mentha oil up on short-covering, firm demand

Mentha oil futures continued to rise for a third straight trading session with prices rising by Rs 8.30 to Rs 1,451.30 per kg on the back of short covering and rising demand in the spot market.

Increased exports demand and reports of lower output this season, also supported the rise.

Sentiment improved further as traders engaged in creating positions on account of good demand from consuming industries and lower arrivals from Chandausi in Uttar Pradesh.

At the Multi Commodity Exchange, December mentha oil rose by Rs 8.30, or 0.57%, to Rs 1,451.30 per kg, clocking a business volume of 826 lots.    

The January contract traded higher by Rs 6.70, or 0.45%, to Rs 1,467 per kg, with a trading volume of 270 lots.