Mentha oil rises 0.4% on firm demand

Export inquiries support uptrend

Mentha oil prices rose by Rs 5.30 to Rs 1,354.30 per kg in futures trade today as speculators created fresh positions, driven by the rising demand from pharmaceutical companies.

At the Multi Commodity Exchange, mentha oil for delivery in September rose by Rs 5.30, or 0.39%, to Rs 1,354.30 per kg, with a business turnover of 263 lots.

The October contract increased by Rs 5, or 0.36%, to Rs 1,373.50 per kg, with trading volume of 38 lots.

Market analysts said besides pick up in demand from pharmaceutical units, export inquiries also influenced mentha oil futures prices.