Mentha oil jumps on rise in spot demand

NEW DELHI: Mentha oil prices climbed in futures trade on Wednesday, supported by short-covering at lower levels, while a rise in demand by consuming industries at spot markets also helped.

Speculators raised positions in mentha oil futures due to an uptick in demand from consuming industries at the spot market against limited supplies from key producing regions.

Around 11:20 am, MCX Mentha oil was at Rs 1,295.50 per kg, up by Rs 28.30, or 2.23 per cent.


Barring occasional gains, mentha oil has been under pressure due to muted demand along with ample supply in key spot markets.

"Mentha (August) is in a broader consolidation range between Rs 1,340-1,250. The trend has been broadly bearish due to unfavorable fundamentals," said Mustafa Nadeem, CEO, Epic Research.

"Consolidation after a prolonged bearish trend seems to be cooling off the bears. We believe prices can continue to remain in a sideways range for a while," he added.