Mentha oil prices rise 1.83 pc on pick-up in demand

Mentha oil prices were trading higher by 1.83 per cent to Rs 1,748.90 per kg in futures market today as speculators engaged in building up positions, amid pick-up in demand in domestic industries and projection of lower output .
Besides, tight stock positions due to restricted arrivals from the major producing belts of Chandausi, gave support to mentha prices.
Meanwhile, this year mentha oil output is projected at 25,000-30,000 ton as against 35,000 ton in the previous year due to fall in acreage.
India exported 5,365 ton mint products during April-June 2017 up from 5,259 ton a year ago.
At the Multi Commodity Exchange, mentha oil for delivery in current month rose Rs 31.40, or 1.83 per cent, to Rs 1,748.90 per kg, clocking a business volume of 42 lots.

The oil for December delivery rose by Rs 27.60, or 1.58 per cent up, at Rs 1,777 per kg, with a trading volume of 330 lots.
Marketmen said raising of bets by speculators, driven by rising demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.