Mentha oil up 0.3% on export, domestic demand

Tight supplies in the physical market supported the uptrend

Mentha oil prices gained 0.39% to Rs 868.90 per kg in futures market today as speculators enlarged positions on the back of increased export as well as domestic demand in the spot market.

Tight supplies in the physical market due to less arrivals from Chandausi in Uttar Pradesh also supported the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in November month gained Rs 3.40, or 0.39%, to Rs 868.90 per kg in business turnover of 64 lots.

Similarly, the oil for delivery in October edged up by Rs 2.80, or 0.33%, to Rs 855.70 per kg in 153 lots.
 
Marketmen attributed the rise in mentha oil in futures trade to increased export and domestic demand at spot markets against tight supplies on restricted arrivals from Chandausi in Uttar Pradesh.