Mentha oil up as demand rises in domestic and export market

Mentha oil prices gained by Rs 14.90, or 1.78 per cent, to Rs 850.90 per kg in futures trade today, as traders created fresh positions, driven by pick up in domestic and export.

Restricted arrivals in the physical market also influenced the mentha oil futures prices. 

At the Multi Commodity Exchange platform, mentha oil for delivery in October-month gained by Rs 14.90, or 1.78 per cent, to Rs 850.90 per kg, with a trading volume of 1,266 lots, while September contract edged up by Rs 14.60, or 1.77 per cent, to Rs 838.90 per kg, with an open interest of 2,106 lots. 

 

Similarly, the oil for delivery in November month rose by Rs 14.10, or 1.66 per cent, to Rs 860.50 per kg, with an open interest of 197 lots.

Marketmen said fresh buying by traders following pick up in domestic and exports demand and lower arrivals from Chandausi in Uttar Pradesh mainly pushed up mentha oil prices at futures trade.