Mentha oil up 1.41 pc in futures trade on pick-up in demand

Mentha oil prices were up 1.41 per cent to Rs 1,036.70 per kg in futures market today as participants raised their holdings on the back of pick-up in demand from consuming industries at the spot market.
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 14.50, or 1.41 per cent, to Rs 1,036.70 per kg, clocking a business volume of 315 lots.
The oil for January traded higher by Rs 12, or 1.17 per cent, to Rs 1,041 per kg, with a trading volume of 106 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.