Mentha oil up 1% on spot demand

Oil for delivery in July contracts traded higher by 1.03%

Mentha oil prices moved up by 1.04 per cent to Rs 1,054 per kg in futures trade today as speculators indulged in creating fresh positions, tracking a firm trend at spot market on pick up in demand from consuming industries.

At Multi Commodity Exchange, mentha oil for delivery in August month rose by Rs 10.80, or 1.04 per cent to Rs 1,054.00 per kg in business turnover of 483 lots.

Likewise, the oil for delivery in July contracts traded higher by Rs 10.60, or 1.03 per cent to Rs 1,035.40 per kg in 1034 lots.

Marketmen said the rise in mentha oil prices at futures trade was mostly attributed to pickup in demand in the spot markes against restricted supplies from producing belts.