Mentha oil strengthens in futures trade on spot demand

Supported by pick up in spot demand, mentha oil prices rose by Rs 13 to Rs 1,053.80 per kg in futures trading today.

Tight stocks at the spot markets following restricted supply in the physical market also influenced the trading sentiment.  

At the Multi Commodity Exchange, mentha oil for March contract rose by Rs 13, or 1.25 per cent, to Rs 1,053.80 per kg, with a business volume of single lot.

In similar manner, the oil for delivery in February contract also moved up by Rs 10.30, or 0.98 per cent, to Rs 1,058.30 per kg, with a business volume of one lot.

Market analysts said firming trend at the spot market following pick up in domestic as well as export demand, influenced the mentha oil futures prices.