Mentha oil futures up 1% on strong demand

Oil for delivery in September moved up by 0.91%

Mentha oil prices traded higher by 1% to Rs 710.50 per kg in futures market today as speculators created fresh positions amid strong domestic and export demand.

Besides, tight supplies from producing regions influenced mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in August gained Rs 7, or 1.00%, to Rs 710.50 per kg in a business turnover of 479 lots.

Similarly, the oil for delivery in September moved up by Rs 6.50, or 0.91%, to Rs 723 per kg in 62 lots.

Market analysts said apart from strong domestic and export demand in the spot market, fall in arrivals from Chandausi in Uttar Pradesh, pushed up mentha oil prices at futures trade.