Mentha oil up 0.55% on strong export, domestic demand

Lower arrivals from UP influence prices

Mentha oil gained Rs 7.50 to Rs 1,364.70 per kg in futures trade today as participants created fresh positions, driven by the pick up in export as well as domestic spot demand.

At the Multi Commodity Exchange, mentha oil for delivery in September rose by Rs 7.50, or 0.55%, to Rs 1,364.70 per kg, with a business volume of 250 lots.

The October contract traded higher by Rs 5.30, or 0.38%, to Rs 1,382 per kg, with a trading volume of 40 lots.

Analysts said fresh buying by traders, following the pick up in spot and export demand and lower arrivals from Chandausi in Uttar Pradesh, pushed up mentha oil prices at futures trade.