Mentha oil futures strengthen on rising export, spot demand

Mentha oil prices rose further by Rs 7.40 to Rs 1,136.30 per kg in futures trade today as speculators enlarged their positions, supported by a rise in domestic and exports demand.

Limited arrivals from producing regions also influenced mentha prices.

At the Multi Commodity Exchange counter, mentha oil for delivery in January rose by Rs 7.40, or 0.66 per cent, to Rs 1136.30 per kg, with an open interest of just a single lot.

Similarly, the oil for delivery in December gained Rs 6.50, or 0.58 per cent, to Rs 1,124.80 per kg, with a business turnover of two lots.

Market analysts said increased buying by speculators, supported by the rise in domestic and export demand, led to a surge in mentha oil futures prices.