Mentha oil surges 2.5% on spot demand

Lower arrivals from growing areas, overseas demand support uptrend

Mentha oil prices surged by 2.51 per cent to Rs 1,344 per kg in futures trading today as speculators enlarged their positions, taking a firm cues from spot market on good domestic as well as export demand.

Restricted arrivals from producing regions and reports of lower output this season further supported the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in November climbed by Rs 32.90, or 2.51 per cent, to Rs 1,344 per kg in business turnover of 1,208 lots.    

The December contract jumped up by Rs 31.10, or 2.34 per cent, to Rs 1,358 per kg in 1,300 lots.

 

Market analysts said, besides good domestic as well as export demand in the spot market and reports of lower output this season mainly pushed up mentha oil prices at futures trade.