Mentha oil up 0.5% on rising demand

Analysts said besides rising demand from consuming industries in the spot market, restricted arrivals led to rise in mentha oil prices

Mentha oil prices gained 0.57% to Rs 845.10 per kg in futures trade today as speculators enlarged their positions, tracking a firm trend at spot market on rising demand.

Tight supplies in the physical market following lower arrivals from Chandausi in Uttar Pradesh also supported the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in February gained Rs 4.80, or 0.57%, to Rs 845.10 per kg in business turnover of 32 lots.

Similarly, the oil for delivery in January moved up by Rs 4.50, or 0.54%, to Rs 833 per kg in 215 lots.

Analysts said besides rising demand from consuming industries in the spot market, restricted arrivals from Chandausi in Uttar Pradesh mainly led to rise in mentha oil prices at futures trade.