Rising demand lifts mentha oil by 1.42% in futures trade

Mentha oil prices were up 1.42 per cent to Rs 1,020.50 per kg in futures market today as participants raised their 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 in January 2017 rose Rs 14.30, or 1.42 per cent, to Rs 1,020.50 per kg, clocking a business volume of 50 lots.
The oil for this month traded higher by Rs 13.10, or 1.31 per cent, to Rs 1,012 per kg, with a trading volume of 108 lots.

Analysts said raising of bets by speculators, driven by pick up in demand from consuming industries in the spot markets against restricted supplies from Chandausi led to the rise in mentha oil prices in futures trade.