Mentha oil gains by 1.4% on high demand

Mentha oil prices rose by 1.38% to Rs 843.20 per kg in futures trade today as traders created fresh positions amid pick-up in demand from consuming industries.

At the Multi Commodity Exchange, mentha oil for delivery in April was trading higher by Rs 11.50, or 1.38%, to Rs 843.20 per kg, clocking a business volume of 1,122 lots.

The oil for March contract gained Rs 11, or 1.34%, to Rs 831.40 per kg, with a trading volume of 166 lots.

Analysts said the rise in mentha oil prices at futures trade was due to fresh positions built-up by speculators, triggered by firm demand from consuming industries in the physical markets against restricted supplies from Chandausi in Uttar Pradesh.