Mentha oil rises on export, domestic demand

Mentha oil prices rose by Rs 8.40 to Rs 1,244.30 per kg in futures trade today as traders created fresh positions, driven by pick-up in demand at spot market, supported by firm export and domestic demand.

At the Multi Commodity Exchange, mentha oil for delivery in March gained Rs 8.40, or 0.67 per cent, to Rs 1,244.30 per kg, with business volume of 384 lots.

The oil for delivery in April rose by Rs 4.50, or 0.42 per cent, to Rs 1,075.20 per kg, with an open interest of 75 lots.

Likewise, mentha oil for delivery in May inched up by Rs 3.60, or 0.38 per cent, with a business turnover of 222 lots.

Market analysts said fresh buying by traders, triggered by pick up in spot as well as export demand in tandem with lesser arrivals from Chandausi in Uttar Pradesh, mainly pushed up mentha oil futures prices.