Amidst bargain buying by traders and stockiest at lower levels enabled the mentha oil prices to garner some gains. Prices of mentha oil have been augmented by more than 2% in today's trading.Mentha futures market has echoed strong demand in today's trading on the account of sturdy buying by exporters and stockiest. Lower productions in current year, as per market estimates, the production of the mentha oil is likely to be around 27000-28000 tonnes in the current year, down 30% from the previous year.
Moreover, backwardation of more than 15% between spot and futures market has also witnessed some buying in futures market.Buying was also still persisted in spot market as prices have been trading at around Rs 608 per kg with gain of Rs 13 per kg at Chandausi market.
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