Mentha oil rises 0.71 pc in futures trade on spot demand

Mentha oil prices went up by 0.71 per cent to Rs 1,032.30 per kg in futures market today as traders built up fresh positions amid pick-up in demand at spot market.
At the Multi Commodity Exchange, mentha oil for delivery in July rose by Rs 7.30, or 0.71 per cent, to Rs 1,032.30 per kg in a business turnover of 28 lots.
Similarly, the oil for August delivery gained Rs 4.90, or 0.47 per cent, to Rs 1,041.60 per kg in 170 lots.
Analysts said fresh positions built up by participants backed up by pick-up in demand in the spot market against restricted supplies from Chandausi led to the rise in mentha oil prices in futures trade.