Mentha oil futures climb on increased spot demand

NEW DELHI: Mentha oil futures climbed in Thursday's session on improved demand at spot markets amid tighter supply from producing regions.

Raising of bets by speculators, driven by surging demand from consuming industries at the spot market against limited supplies from key producing regions, drove mentha oil prices higher in futures trade.

Around 12:20 pm, MCX Mentha oil was at Rs 1,324.90 per kg, up by Rs 13.40, or 1.02 per cent.


"Prices have corrected in the last few months while recent short-term up move in May and June contract is showing signs of strength. With that, demand in key spot markets of UP has also improved," said Romesh Tiwari, Head Of Research, CapitalAim.

Mentha oil has resistance at Rs 1,310 and a rise above that could take it to the next resistance level of Rs 1,330, he added.