Mentha oil up 0.3% on rising demand

Oil for delivery in October edged up by 0.15%

Mentha oil prices traded higher by 0.26% to Rs 685.70 per kg in futures market today as speculators enlarged positions amid rising demand from consuming industries in the spot market.

Also, tight supplies from producing belts in the physical market and some export enquiries, supported the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in November moved up by Rs 1.80, or 0.26%, to Rs 685.70 per kg in a business turnover of 105 lots.

Likewise, the oil for delivery in October edged up by Re 1, or 0.15%, to Rs 675.50 per kg in 238 lots.

Market analysts said besides rising demand from consuming industries in the spot market, limited arrivals from Chandausi in Uttar Pradesh, mainly led to the rise in mentha oil prices in futures trade.