MCX mentha oil jumps 3% on fresh buying

Mentha oil futures gained as traders crested fresh positions on firm demand from the pharmaceutical industries.

At MCX mentha oil October contract is   Rs.1360 per Kg, higher by 3 per cent on 16:15 IST as against the previous close.

In the early sessions the contract traded at a range of Rs.1320.90-1369.90 per Kg. Open interest of the contract is 3030 lots and volume traded is 8085 lots for the time being.

Analysts said fresh buying by traders following pick-up in spot demand and lower arrivals from Chandausi in Uttar Pradesh mainly pushed up mentha oil futures prices.

Also rise in prices in the spot markets due to increasing export and pharmaceutical industries buying, pushed up the mentha prices in futures trade as well.