Mentha oil rises on export, domestic demand

Pick-up in overseas and domestic demand at spot markets amid lower arrivals from Chandausi in UP raises prices

Mentha oil prices rose further by Rs 10 to Rs 1,156.50 per kg in futures trade today as speculators engaged in creating positions driven by a rising export as well as domestic demand.

At the Multi Commodity Exchange, the October contract for mentha oil rose by Rs 10, or 0.87%, to Rs 1,156.50 per kg, with a business volume of 659 lots.

The November contract rose by Rs 8.80, or 0.75%, to Rs 1,171 per kg, with a trading volume of 154 lots.

Marketmen attributed the rise in mentha oil at futures trade to pick-up in overseas and domestic demand at spot markets amid lower arrivals from Chandausi in Uttar Pradesh.