Mentha oil rises on surged demand

NEW DELHI: Mentha oil climbed slightly up on Thursday, on an uptick in demand coupled with restricted arrival from producing regions.

Around 11:15 am, MCX Mentha oil futures were at Rs 1,495 per kg, up by Rs 7.40, or 0.50 per cent.

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

However, brokerages said MCX Mentha oil may see a correction if the price remains below Rs 1,550.

"Mentha oil December MCX is likely to see a correction towards Rs 1,480-1,450 if prices stay below Rs 1,550," said Geojit Financial Services in a report.