Mentha oil up 0.55% on spot demand

Restricted arrivals support uptrend

Buoyed by a firm trend at the spot market on pick up in demand from pharmaceutical units, mentha oil prices moved up by Rs 7.50 to Rs 1,369.70 per kg in futures market today on heavy buying by speculators.

Restricted arrivals from producing regions supported the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in September rose by Rs 7.50, or 0.55%, to Rs 1,369.70 per kg, with a business turnover of 650 lots.

The October contract gained Rs 6.30, or 0.45%, to Rs 1,388 per kg in 133 lots.

Marketmen said besides pick up in demand from pharmaceutical units, restricted arrivals from Chandousi in Uttar Pradesh led to the rise in mentha oil prices in the futures trade.