Mentha oil rise 1.65% on pick-up in demand

Mentha oil prices were trading higher by 1.65 per cent to Rs 1,290.70 per kg in futures market today as speculators enlarged positions, amid pick-up in demand from consuming industries in the domestic spot market.
Besides, tight stock positions on restricted arrivals from producing belts, gave support to mentha prices.
At the Multi Commodity Exchange, mentha oil for delivery in March contracts rose Rs 21, or 1.65 per cent, to Rs 1,290.70 per kg with a business volume of 511 lots.
The oil for current month delivery also traded higher by Rs 20.50, or 1.62 per cent, at Rs 1,283.40 per kg with a trading volume of 458 lots.

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