Mentha oil up marginally on spot demand

July contract up 0.17% on higher offtake from pharma companies

Mentha oil futures prices today rose by Rs 2.20 to Rs 1,322 per kg as speculators created fresh positions, driven by rising spot demand from pharmaceutical industries against less arrivals.

At the Multi Commodity Exchange, mentha oil for delivery in July rose by Rs 2.20, or 0.17%, to Rs 1,322 per kg in a business turnover of 534 lots.

The August contract edged up by Rs 1.70, or 0.13%, to Rs 1,346.40 per kg in a business turnover of 328 lots.

Market analysts said fresh positions created by speculators, driven by rising demand from pharmaceutical industries in the spot market and less arrivals from Chandausi in Uttar Pradesh, mainly helped mentha oil futures to trade higher.