Mentha oil prices up 0.6% on spot demand

Mentha oil prices were up 0.56% to Rs 878.50 per kg in futures trade today as speculators built up fresh positions, supported by pick up in demand from consuming industries in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in December month up by Rs 4.90, or 0.56% to Rs 878.50 per kg in business turnover of 39 lots.

Likewise, the oil for delivery in January next year traded higher by Rs 3.10, or 0.35% to Rs 889.20 per kg in 125 lots.

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