Mentha oil rises in futures trade on industrial demand

Mentha oil prices rose by Rs 18 to Rs 1,342.50 per kg in futures trade today as speculators enlarged their positions on the back of a strong industrial and export demand.

Restricted arrivals from the producing belt also influenced the mentha oil prices.

At the Multi Commodity Exchange, September delivery rose by Rs 18, or 1.36%, to Rs 1,342.50 per kg, with a business turnover of 371 lots.

Likewise, the oil for October delivery moved up by Rs 18, or 1.34%, to Rs 1,362.80 per kg, with an open interest of 758 lots.

Market analysts attributed the surge in mentha oil futures prices to pick-up in industrial and export demand.

In addition, tight stocks following restricted arrivals from Chandousi in Uttar Pradesh boosted the oil's demand, they added.