Mentha oil gains 0.5% on rising spot demand

Mentha oil prices edged higher by 0.53% to Rs 678.40 per kg in futures trade today after speculators created fresh positions amid tight supplies against rising demand in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in July gained Rs 3.60, or 0.53%, to Rs 678.40 per kg in a business turnover of 488 lots.

Similarly, the oil for delivery in August moved up by Rs 3, or 0.43%, to Rs 696.50 per kg in 126 lots.

Analysts said pick-up in demand from consuming industries in the spot market led to the rise in mentha oil prices at futures trade.