Mentha oil up 0.25% on rising demand

Continuing its upward march for the fourth straight day, mentha oil prices gained Rs 3.50 to Rs 1,325.50 per kg in futures trade today on rising demand from pharmaceutical units in the spot market.

Tight stocks position in the physical market due to low supplies from the producing region in Uttar Pradesh also influenced the mentha oil futures prices.

At the Multi Commodity Exchange, mentha oil for delivery in January added another Rs 3.50, or 0.26%, to Rs 1,325.50 per kg, with a business turnover of 269 lots.

The February contract moved up by Rs 3.10, or 0.23%, to Rs 1,324.50 per kg, with an open interest of 35 lots.

 

Market analysts said apart from rising demand from pharmaceutical units in the spot market, less arrivals from Chandausi in Uttar Pradesh mainly pushed up mentha oil at futures trading.