Mentha oil up 0.32% on rising demand

Mentha oil prices were up 0.32 per cent to Rs 903.50 per kg in futures market today as participants widened their holdings on the back of rising demand from consuming industries at the spot market.
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 2.90 or 0.32 per cent to Rs 903.50 per kg, clocking a business volume of 232 lots.
The oil for October delivery traded higher by Rs 1.80 or 0.20 per cent to Rs 912.30 per kg with a trading volume of 12 lots.

Analysts said fresh positions built up 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.