Mentha oil futures trade in the green in morning deals

NEW DELHI: Mentha oil futures looked good on Monday.

MCX Mentha futures gained by Rs 23.70, or 1.41 per cent, at Rs 1,702.50 at around 10.42 am.

"Mentha oil futures (September) are seen trying to hold its gains by taking support near Rs 1,650. However, it is advised to keep a word of caution as it is facing resistance near Rs 1,695 levels. Overall, in the short term, the trend is still supportive in the wake of lower supply against rising demand," said SMC Global Securities in its daily commodity report.


"Besides, farmers are holding back produce, expecting more gains ahead. In the spot market, the counter is witnessing strong demand from both domestic and overseas fronts amid restricted supplies. The export demand has been gaining momentum gradually mainly on the back of enquiries from China and Europe," the brokerage said.

Extracted from the herb Mentha arvensis through distillation, mentha oil is mostly used in food and flavourings.