Mentha oil up 0.57 pc in futures trade on pick-up in demand

Mentha oil prices were trading up 0.57 per cent at Rs 947.50 per kg in futures market today as participants raised holdings on the back of pick-up in spot demand from consuming industries.
Besides, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also provided support to mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery this month rose Rs 5.40, or 0.57 per cent, to Rs 947.50 per kg, clocking a business volume of 146 lots.
The oil for May delivery traded higher by Rs 5.10, or 0.53 per cent, to Rs 959 per kg, with a trading volume of 54 lots.

Analysts said raising of bets 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.