Mentha oil rises by 0.4% on strong industrial demand

Mentha oil prices advanced by 0.44% to Rs 756.20 per kg in futures trading today as speculators enlarged positions amid strong demand from consuming industries in the spot market.

Besides, tight stocks position in the physical market on restricted supplies from producing belts, supported the upside.

At the Multi Commodity Exchange, mentha oil for delivery in February moved up by Rs 3.30, or 0.44%, to Rs 756.20 per kg in a business turnover of 218 lots.

Similarly, the oil for delivery in March gained Rs 3.10, or 0.41%, to Rs 766.30 per kg in 441 lots.

Market analysts said besides strong demand from consuming industries in the spot market, limited supplies from Chandausi in Uttar Pradesh, mainly kept mentha oil prices higher at futures trade.