Mentha oil futures up 3.70% on pick up in demand

Mentha oil prices were up 3.70 per cent to Rs 1,038.50 per kg in futures market today as participants raised their holdings on the back of pick up in spot demand from consuming industries.
Besides, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also supported to mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in current month rose Rs 37.10, or 3.70 per cent, to Rs 1,038.50 per kg, clocking a business volume of 257 lots.
The oil for June contract traded higher by Rs 9.80, or 1.05 per cent, to Rs 939.90 per kg, with a trading volume of 393 lots.

Analysts 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.