Mentha oil rises on strong demand

NEW DELHI: Mentha oil prices climbed in the domestic futures market on Tuesday, riding on higher demand coupled with restricted arrival from producing regions.

Around 10:40 am, the MCX Mentha oil was trading at Rs 1,547 per kg, higher by Rs 22.20 or 1.46 per cent.

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

Bullion lost shine in futures trade and crude oil also slipped in MCX. Indian equity market was in the grip of bears as selling emerged in most sectors after the surprising resignation of RBI Governor Urjit Patel last evening.