Mentha oil prices climb on an uptick in spot demand
Mentha rebounded on the back of buying at lower demand and improved sentiments.
Commodity Summary MCX
Speculators raised positions in mentha oil futures as demand from consuming industries climbed amid limited supplies from key producing regions.
Around 11:35 am, MCX Mentha oil was at Rs 1,316 per kg, up by Rs 15.20, or 1.17 per cent.
Participants said mentha rebounded on the back of buying at lower demand and improved sentiments in key spot markets in Uttar Pradesh.
For the short-term, the prices of the commodity could further move up. However, the expectation of higher plantation of mentha due to lucrative returns could limit the gains.