Mentha oil up 0.58% on spot demand

Lower arrivals influence prices

Mentha oil prices moved up by Rs 7.70 to Rs 1,338.90 per kg in futures trading today as participants created fresh positions, driven by a pick up in demand against lower arrivals.

At the Multi Commodity Exchange, mentha for October delivery rose by Rs 7.70, or 0.58%, to Rs 1,338.90 per kg, with a business turnover of 1,128 lots.

The September contract edged up by Rs 6.60, or 0.50%, to Rs 1,318.40 per kg, with an open interest of 2,068 lots.

Marketmen said fresh buying by speculators on the back of a pick up in demand from pharmaceutical units amid lower arrivals from Chandausi in Uttar Pradesh led to the rise in mentha oil futures.