Mentha oil prices rose by 1.75 per cent on Friday at the Multi Commodity Exchange (MCX) as traders engaged in creating positions on account of good demand from consuming industries and lower arrivals from Chandausi in Uttar Pradesh.
At MCX, Mentha oil futures for June 2013 contract, at MCX, were trading at Rs.991.50 per kg, up by 1.75 per cent after opening at Rs. 982.70 against the previous closing price of Rs. 974.40. It touched the intra-day high of Rs. 1,000 till the trading. (At 1.43 PM today).
Sentiment improved further due to tight stocks position in the physical market due to restricted arrivals from producing belts.
About 80 per cent of the crop in India comes from Uttar Pradesh (Rampur, Moradabad, Bareilly, Barabanki and Badaun) and the balance 20 per cent from Punjab, Himachal Pradesh and Haryana.