Upsurge in demand lifts mentha oil futures by 2.02%

Mentha oil prices shot up by 2.02 per cent to Rs 1,339.50 per kg in futures trading today as participants raised their bets following pick-up in demand in the spot market.
Besides, tight stock position on restricted supplies from producing belts too fulled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in November went up by Rs 26.50, or 2.02 per cent to Rs 1,339.50 per kg in business turnover of 838 lots.
Similarly, the oil for delivery in December contracts traded higher by Rs 23.60, or 1.77 per cent to Rs 1,354.50 per kg in 2,097 lots.

Analysts said widening of positions by traders after pick up in demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.