Mentha oil gain 0.45% on pick up in demand

Less arrivals from Chandausi, UP also supported prices

Mentha oil futures prices gained 0.45% to Rs 1,391.80 per kg today as speculators created fresh positions, driven by pick-up in demand from pharmaceutical units in the spot market.

Restricted arrivals due to dry weather in the key growing areas also influcneced the mentha oil prices.

At the MCX, mentha oil for delivery in June rose by Rs 6.20, or 0.45%, to Rs 1,391.80 per kg in business turnover of 372 lots.

The July contract edged up by Rs 1.90, or 0.14%, to Rs 1,406 per kg in 114 lots.

Marketmen said fresh positions built-up by speculators on the back of pick-up in demand from pharmaceutical units and less arrivals from Chandausi in Uttar Pradesh mainly led to rise in mentha oil prices at futures trade.