Mentha oil rises by 0.7% on spot demand

Mentha oil prices were up by 0.70% at Rs 869.80 per kg in futures trade today as speculators enlarged positions, supported by rising demand in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in October gained Rs 6.10, or 0.70%, to Rs 869.80 per kg, with a trading volume of 489 lots.

Similarly, the oil for delivery in November edged up by Rs 5.20, or 0.59%, to Rs 880.10 per kg, with a business turnover of 107 lots.

Marketmen said a firming trend at the spot market on pick up in demand amidst restricted supplies from Chandausi in Uttar Pradesh, mainly influenced mentha oil prices at futures trade.