Mentha oil futures edge marginally higher on rising demand

Mentha oil prices rose by 0.49 per cent to Rs 908.30 per kg in futures trade today as participants build up fresh positions, driven by rising demand from consuming industries at the spot market.
Besides, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also added support to mentha oil prices uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in September month was up by Rs 4.40 or 0.49 per cent to Rs 908.30 per kg clocking a business volume of 79 lots.
Also, the oil for delivery in August traded higher by Rs 3.60 or 0.40 per cent to Rs 896.20 per kg with a trading volume of 284 lots.

Analysts said rising demand from consuming industries at spot market mainly supported the increase in mentha prices at futures trade here.