Mentha oil up 1% on higher demand

Mentha oil for delivery in June traded higher by 1.01%

Mentha oil futures prices today gained 1.04% to Rs 1,057.60 per kg as speculators enlarged their positions, driven by higher demand from consuming industries in the spot market against less arrivals from producing region.

At the Multi Commodity Exchange, mentha oil for delivery in July gained Rs 10.90, or 1.04%, to Rs 1,057.60 per kg in business turnover of 288 lots.

Likewise, mentha oil for delivery in June traded higher by Rs 10.40, or 1.01%, to Rs 1,042.90 per kg in 221 lots.

Market analysts said speculators enlarged their positions, driven by higher demand from consuming industries in the spot market against less arrivals from Chandausi in Uttar Pradesh mainly kept mentha oil prices firm at futures trade.