Mentha oil extend gains, up 0.60% on strong demand

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SummaryMentha oil prices rose further by Rs 8.10 to Rs 1,336.50 per kg in futures trade today, largely on the back of domestic as well as exports demand amid reports of lower output this season.

Mentha oil prices rose further by Rs 8.10 to Rs 1,336.50 per kg in futures trade today, largely on the back of domestic as well as exports demand amid reports of lower output this season.

The sentiment improved further as traders engaged in creating positions on account of good demand from consuming industries and lower arrivals from Chandausi in Uttar Pradesh.

At the Multi Commodity Exchange, mentha oil for delivery in February edged higher by Rs 8.10, or 0.60 per cent, to Rs 1,336.50 per kg, clocking a business volume of 200 lots.

The oil for January contract traded higher by Rs 7.50, or 0.56 per cent, to Rs 1,323.40 per kg, with a trading volume of 593 lots.

Analysts said fresh positions created by speculators, following pick-up in export and domestic demand and lower arrivals from Chandausi in Uttar Pradesh mainly pushed up mentha oil prices at futures trade.

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