Mentha oil up 0.64 pc on rising spot demand

Mentha oil prices rose 0.64 per cent to Rs 917.90 per kg in futures market today as traders built up fresh positions amid pickup in demand from consuming industries at the spot market.
Besides, tight stocks position following restricted arrivals from major producing belts, added support to mentha oil prices uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in October rose by Rs 5.90, or 0.64 per cent, to Rs 917.90 per kg, clocking a business volume of 46 lots.
The oil for September delivery traded higher by Rs 5.60, or 0.62 per cent, to Rs 908.30 per kg, with a trading volume of 305 lots.

Analysts said fresh positions built up by speculators, driven by rising demand from consuming industries in the spot market against restricted supplies from Chandausi led to the rise in mentha oil prices in futures trade.