Mentha oil rises 0.44% on spot demand

Tight stocks availability helps price surge

Mentha oil futures prices today rose by Rs 5.80 to Rs 1,325 per kg as speculators created fresh positions, driven by the pick up in spot demand from pharmaceutical industries.

Tight stocks availability in the physical market following less arrivals from producing belts also influenced  mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in August rose by Rs 5.80, or 0.44%, to Rs 1,325 per kg in a business turnover of 165 lots.

The July contract moved up by Rs 5.40, or 0.42%, to Rs 1301 per kg in 43 lots.

Market analysts said fresh positions created by speculators, driven by the pick up in demand from pharmaceutical industries in the spot market amid lower arrivals from Chandausi in Uttar Pradesh, led to the rise in mentha oil prices at futures market.