Mentha oil climbs 3% on spot demand

Restricted arrivals from Chandausi supported the uptrend

Mentha oil prices shot up by nearly 3% to Rs 991.20 per kg in futures trade today mostly on the back strong advices from spot markets.

At the Multi Commodity Exchange (MCX), the May contract spurted by Rs 28.80, or 2.99%, to Rs 991.20 per kg in 500 lots.

The June contract shot up by Rs 21.80, or 2.29%, to Rs 974.60 per kg in 636 lots.

Market experts attributed the sharp rise in mentha oil futures to strong domestic and export demand in the spot market amid restricted arrivals from Chandausi in Uttar Pradesh.