Mentha oil up 0.2% on pick-up in demand

Oil for delivery in September edged up by 0.17%

Mentha oil prices moved up by 0.23% to Rs 707.10 per kg in futures trade today as speculators created fresh positions amid pick-up in domestic and export demand in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in August gained Rs 1.60, or 0.23%, to Rs 707.10 per kg in a business turnover of 164 lots.

Similarly, the oil for delivery in September edged up by Rs 1.20, or 0.17%, to Rs 719.50 per kg in 30 lots.

Market analysts said apart from pick-up in demand from consuming industries in the spot market, restricted arrivals from Chandausi in Uttar Pradesh, led to the rise in mentha oil prices at futures trade.