Mentha oil up over 1% on strong demand

Mentha oil rose by Rs 12.50 to Rs 1,201.30 per kg in futures trade today as speculators engaged in creating fresh positions on account of good demand from consuming industries and lower arrivals.

Increased overseas demand supported the uptrend.

At the Multi Commodity Exchange, mentha oil for December rose by Rs 12.50, or 1.05%, to Rs 1,201.30 per kg, with a business volume of 25 lots.

The November contract was higher by Rs 12, or 1.02%, to Rs 1,187 per kg, with a trading volume of 372 lots.

Marketmen attributed the rise in mentha oil at futures trade to pick up in overseas and domestic demand at the spot markets amid lower arrivals from Chandausi in Uttar Pradesh.