Mentha oil recovers by 0.4% as demand picks up

Mentha oil prices recovered by 0.39% to Rs 930.60 per kg in futures trade today as participants widened positions, driven by pick up in demand from consuming industries in the spot market.

Besides, restricted supplies from producing region supported the upside.

At the Multi Commodity Exchange, mentha oil for delivery in April edged up by Rs 3.60, or 0.39%, to Rs 930.60 per kg, in a business turnover of 78 lots.

Similarly, the oil for delivery in March traded higher by Rs 3.50, or 0.38%, to Rs 919 per kg in 245 lots.

Analysts said widening of positions by traders following pick up in demand from consuming industries in the spot market amid restricted supplies from Chandausi in Uttar Pradesh led to the rise in mentha oil prices at futures trade.