Mentha oil recovers on strong demand

Mentha oil prices recovered by Rs 1.49 to Rs 1,362.50 per kg in futures market today as speculators created fresh positions driven by strong domestic and export demand in the spot market.

Restricted arrivals from Chandausi in Uttar Pradesh and reports of lower output estimate this year also influenced mentha oil prices at futures trade.

At the Multi Commodity Exchange, the December contract recovered by Rs 20, or 1.49% to Rs 1,362.50 per kg in business turnover of 1,231 lots.

The January contract gained Rs 20.10, or 1.48% to Rs 1,378.30 per kg in 356 lots.

Market analysts said speculators created fresh positions, driven by strong domestic and export demand amid lower arrivals from Chandausi in Uttar Pradesh were mainly attributed to the recovery in mentha oil prices at futures trade.