Mentha oil gains 0.7% on spot demand

Restricted arrivals influence prices

Mentha oil prices gained 0.70% to Rs 1,182 per kg in futures market today as speculators enlarged positions after a surge in demand from consuming industries against restricted arrivals from producing belt.

Reports of lower production this season on late rains influenced mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in November gained Rs 8.20, or 0.70%, to Rs 1,182 per kg, with a business turnover of 36 lots.

The October contract traded higher by Rs 7.90, or 0.68%, to Rs 1,167 per kg, with a business turnover of 208 lots.

Marketmen said besides pick up in demand from consuming industries in the spot market, less arrivals from Chandousi in Uttar Pradesh pushed up mentha oil futures.