Mentha oil remains higher on exports demand

Mentha oil futures prices rose by Rs 18.60 to Rs 1,286.80 per kg today, as traders engaged in creating huge positions, driven by a pick up in demand at spot markets.

At the Multi Commodity Exchange counter, mentha oil for delivery in February up by Rs 18.60, or 1.47 per cent to Rs 1,286.80 per kg, while December contract was up by Rs 18.10, or 1.47 per cent to Rs 1,270.80 per kg.

Similarly, the oil for January month contract surged by Rs 17.70 or 1.38 per cent to Rs 1,278.30 per kg.

Market analysts said increased positions created by speculators, supported by pick up in domestic and export demand, pushed up mentha oil futures prices.

Besides, reports of fall in production also influenced prices, they said.