Mentha oil futures push up 3.66% on demand spurt

Mentha oil prices were up 3.66 per cent to Rs 1,700 per kg in futures market today as participants raised their holdings on the back of pick-up in spot demand from consuming industries.
Tight stock position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also supported the mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in December rose Rs 60.10, or 3.66 per cent, to Rs 1,700 per kg, clocking a business volume of 592 lots.
The oil for this month contract traded higher by Rs 53.10, or 3.27 per cent, to Rs 1,677.60 per kg, with a trading volume of 458 lots.

Analysts said raising of bets by speculators, driven by rising demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the upmove in futures trade.