Mentha oil gains 1.6% on spot demand

Restricted arrivals influence prices

Mentha oil prices rose by Rs 20.90 to Rs 1,340.90 per kg in futures trade today as speculators created fresh positions, driven by the rise in spot demand.

Restricted arrivals from the producing regions supported the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in September rose by Rs 20.90, or 1.58%, to Rs 1,340.90 per kg, with a business turnover of 212 lots.

The August contract gained Rs 19.60, or 1.50%, to Rs 1,318 per kg, with a trading volume of 516 lots.

Marketmen said fresh positions built-up by speculators following a rise in the spot market demand pushed up mentha oil futures prices.