Mentha oil futures up 0.78 pc on rise in demand

Mentha oil prices rose 0.78 per cent at Rs 951.90 per kg in futures market today largely on the back of pick-up in demand from consuming industries at the spot market.
Further, tight stocks position on restricted supplies from producing regions, too supported mentha oil prices.
However, gains were capped on the speculation that the area under cultivation may increase this year resulting in good production.
At the Multi Commodity Exchange, mentha oil for delivery this month rose Rs 7.40, or 0.78 per cent, to Rs 951.90 per kg, clocking a business volume of 128 lots.
The oil for May traded higher by Rs 4.70, or 0.49 per cent, to Rs 960 per kg with a trading volume of 17 lots.

Marketmen said raising of bets by speculators, driven by rising demand from consuming industries in the spot markets against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.