Mentha oil gains by 0.3% as demand picks up

Speculators enlarged positions, driven by pick up in demand in the spot market

Mentha oil prices were up by 0.35% to Rs 708.50 per kg in futures trade today as speculators enlarged positions, driven by pick up in demand from consuming industries in the spot market.

Besides, tight supplies in the physical market following restricted arrivals from producing belt also led to a gain in prices.

At the Multi Commodity Exchange, mentha oil for delivery in January next year rose by Rs 2.50, or 0.35%, to Rs 708.50 per kg in business turnover of 22 lots.

Likewise, the oil for delivery in December edged up by Rs 2.10, or 0.30%, to Rs 697 per kg in 136 lots.
 
Market analysts said besides pick up in demand from consuming industries in the spot market, restricted arrivals from Chandausi in Uttar Pradesh mainly led to the rise in mentha oil prices in futures trade.