Mentha oil gains 0.31% on spot demand

Mentha oil prices rose 0.31 per cent to Rs 902.40 per kg in futures market today as participants widened their positions on the back of rising demand from consuming industries at the spot market.
Further, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also added support to mentha oil prices uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in September rose by Rs 2.80 or 0.31 per cent to Rs 902.40 per kg clocking a business volume of 69 lots.
The oil for August delivery traded higher by Rs 2.40 or 0.27 per cent to Rs 890.50 per kg with a trading volume of 134 lots.

Analysts said enlarging of positions by speculators on the back of rising demand from consuming industries in the spot markets against restricted supplies from Chandausi led to the rise in mentha oil prices at futures trade.