Mentha oil up 1.06% on strong demand

Oil for delivery in August was trading higher by 0.98%

Mentha oil prices traded higher by 1.06 per cent to Rs 930.80 per kg in futures market today as speculators widened positions amid strong domestic and export demand.

Besides, tight supplies from producing regions influenced mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in July gained Rs 9.80, or 1.06 per cent, to Rs 930.80 per kg in a business turnover of 183 lots.

Similarly, the oil for delivery in August was trading higher by Rs 9.20, or 0.98 per cent, to Rs 943.30 per kg in 516 lots.

Market analysts said apart from strong domestic and export demand, fall in arrivals from Chandausi in Uttar Pradesh, pushed up mentha oil prices at futures trade.