Mentha oil up as demand rises in spot market

Mentha oil prices gained by  Rs 8.20 to Rs 1,173.20 per kg in futures trade today, as  traders created fresh positions, driven by a firming trend in  the spot market.

Restricted arrivals in the physical market also influenced mentha oil futures prices.

At the Multi Commodity Exchange, mentha oil for delivery in February month delivery gained by Rs 8.20, or 0.70 per cent

To Rs 1,173.20 per kg with trading volume of 71 lots, while December contract edged up by Rs 7.20, or 0.63 per cent to  Rs 1,141.60 per kg, with business turnover of 421 lots.

Similarly, the oil for delivery in January month rose  by Rs 7.10, or 0.61 per cent to Rs 1,163.50 per kg having a business turnover of 882 lots.

Market analysts said fresh buying by traders following pick up in spot demand and lower arrivals from Chandausi in Uttar Pradesh mainly pushed up mentha oil prices at futures trade.