Mentha oil futures rises on spot demand, fall in supply

NEW DELHI: Mentha oil prices rose by Rs 5.10 to Rs 702 per kg in futures trade today as traders created fresh positions, driven by a pick-up in spot market demand.

Besides, rising export demand and limited supplies from the producing areas supported the upside in mentha oil futures prices.

At the Multi Commodity Exchange, mentha oil for delivery in November gained Rs 5.10, or 0.73 per cent, to Rs 702 per kg, with a trading volume of 127 lots.

Similarly, the oil for delivery in October edged up by Rs 4.90, or 0.71 per cent, to Rs 691.90 per kg, with a business turnover of 539 lots.

Marketmen said apart from export demand, a firming trend at the spot markets amidst restricted supplies from Chandausi in Uttar Pradesh, mainly influenced mentha oil prices at futures trade here.