Mentha oil prices climb on healthy spot demand

NEW DELHI: Mentha oil prices jumped in futures trade on Friday, supported by healthy demand by consuming industries at the spot market.

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

Around 11:55 am, MCX Mentha oil was at Rs 1,550.90 per kg, up by Rs 21.10, or 1.38 per cent.

Market participants said prices are seeing some short covering as there is an improvement in demand at lower levels and buyers are coming to take positions at cheaper prices.