Strong spot demand lifts mentha oil futures 1.15%

Mentha oil prices surged 1.15 per cent to Rs 992.60 per kg in futures trade today after speculators created fresh positions amid a firming trend at spot market on rising demand from consuming industries.
Tight stock position in the physical market on restricted arrivals from Chandausi in Uttar Pradesh supported the upside.
At Multi Commodity Exchange, mentha oil for delivery in June rose Rs 11.30, or 1.15 per cent, to Rs 992.60 per kg in business turnover of 815 lots.
Similarly, the oil for delivery in July contracts moved up by Rs 10.70, or 1.07 per cent, to Rs 1,008.50 per kg in 131 lots.

Marketmen said speculators built up fresh positions, driven by rising demand from consuming industries in the spot market, which mainly led to the rise in mentha oil prices.