Mentha oil up on strong demand

Mentha oil prices rose by Rs 16.60 to Rs 1,249.80 per kg in futures trade today as speculators created fresh positions on the back of strong domestic as well as export demand.

Reports of lower production this season further fuelled the uptrend.

At the Multi Commodity Exchange, the December contract rose by Rs 16.60, or 1.35% to Rs 1249.80 per kg in business turnover of 132 lots.

In a similar fashion, the November contract moved up by Rs 15.60, or 1.28% to Rs 1,235.50 per kg in 416 lots.

Market analysts said besides strong domestic as well as export demand, restricted arrivals from producing belts mainly pushed up mentha oil prices at futures trade.