Mentha oil futures up on rising industrial demand

Mentha oil futures prices gained Rs 6.50 to Rs 1336.50 per kg today, on rising industrial demand in the spot market amid restricted arrivals from producing region.

Paucity of stocks following less arrivals from Chandousi in Uttar Pradesh also influenced mentha oil futures prices.

A firming trend in the spot market on account of a rise in demand and restricted supply from the growing belt of Chandausi in Uttar Pradesh also supported the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in November gained Rs 6.50, or 0.26%, to Rs 1,336.60 per kg, with a business turnover of 140 lots.

Likewise, the oil for delivery in December edged up by Rs 2.50, or 0.19%, to Rs 1,351 per kg, with a trade volume of 394 lots.

Analysts said apart from rising industrial demand, fresh enquiries from pharmaceutical units mainly pushed up mentha oil futures prices.