Mentha oil up by 0.56% on pick up in demand

Mentha oil prices were up 0.56 per cent to Rs 973.40 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 extended support to mentha oil prices uptrend.
At the Multi Commodity Exchange, mentha oil for delivery December month rose by Rs 5.40, or 0.56 per cent, to Rs 973.40 per kg, clocking a business volume of 52 lots.
The oil for November delivery traded higher by Rs 4.40, or 0.46 per cent, to Rs 963.10 per kg, with a trading volume of 417 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.