Mentha oil up 0.4% on rising demand

Mentha oil prices moved up by 0.36% to Rs 703.90 per kg in futures trading today as speculators enlarged positions, driven by rising demand from consuming industries in the spot market.

Tight supplies from producing belts and some export enquiries further fuelled the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in October advanced by Rs 2.50, or 0.36%, to Rs 703.90 per kg in business turnover of 66 lots.

Similarly, the oil for delivery in November gained Rs 1.60, or 0.22%, to Rs 713.20 per kg in 8 lots.

Market analysts said besides rising demand from consuming industries in the spot market, restricted arrivals from Chandausi in Uttar Pradesh mainly led to the rise in mentha oil prices at futures trade.