Mentha oil rises on increased industrial demand

Tight arrivals in the spot market also boosted prices

Mentha oil prices rose by Rs 5.20 to Rs 1,348.80 per kg in futures trade today as speculators enlarged positions, tracking a firm trend at spot market on increased demand from consuming industries.

Less arrivals from Chandousi in Uttar Pradesh also supported the uptrend, traders said.

At the Multi Commodity Exchange, mentha oil for delivery in October rose by Rs 5.20, or 0.39%, to Rs 1,348.80 per kg, with a business turnover of two lots.

The August contract moved up by Rs 3.80, or 0.29%, to Rs 1,326.20 per kg in 102 lots.

Marketmen said a firming trend in the spot market, following increased demand from consuming industries amid lower arrivals from key producing regions helped mentha oil prices to trade higher at futures market.