Mentha oil futures edge up 0.31 on spot demand

Mentha oil prices were up by 0.31 per cent to Rs 865 per kg in futures market today as participants built up fresh positions, supported by improved demand from consuming industries in the spot market.
Moreover, tight stocks position on restricted supplies from producing regions fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in far-month June rose by Rs 2.70, or 0.31 per cent to Rs 865 per kg in business turnover of 31 lots.
On similar lines, the oil for delivery in May contracts moved up by Rs 1.80, or 0.21 per cent to Rs 875 per kg in 80 lots.

Market analysts said fresh positions created by traders after pick up in demand from consuming industries in the spot market amid restricted supplies from Chandausi in Uttar Pradesh mainly led to the rise in mentha oil prices at futures trade.