Mentha Oil on MCX settled up 3.37% at 1467.3 due to pick up in demand from consuming industries in the domestic spot market. Furthermore, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also supported mentha oil prices uptrend. As winter season is approaching there is expectation of increase in export demand which is supporting prices to trade upside.

As per sources, tight stock position which has been followed by fall in arrivals from the major producing belts of Chandausi in Uttar Pradesh has given support to the uptrend in prices. Speculators have widened their positions because of pick-up in demand from consuming industries in the spot market against restricted supplies.

Trading Ideas:

* Mentha Oil trading range for the day is 1401.1-1507.1.

* Mentha Oil spot at Sambhal closed at 1588.50 per 1kg. Spot prices was remain unchangeby Rs.0.00/-.

* Mentha Oil gained due to pick up in demand from consuming industries in the domestic spot market.

* Furthermore, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also supported mentha oil prices.

* As winter season is approaching there is expectation of increase in export demand which is supporting prices to trade upside.

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