Mentha oil futures remain up on pick-up in demand

Mentha oil prices rose for the third straight day by adding Rs 16.40 to Rs 949 per kg in futures trade today as traders engaged in enlarging their positions, driven by pick-up in spot market demand amid low stocks.

Restricted arrivals in the physical market also influenced mentha oil futures prices. 

At the Multi Commodity Exchange, mentha oil for delivery in May delivery gained Rs 16.40, or 1.75% to Rs 949 per kg, with a business turnover of 69 lots. 

The oil for delivery in June rose by Rs 10.50, or 1.17% to Rs 902 per kg, with an open interest of 19 lots.

 

Similarly, its prices for delivery in July moved up by Rs 10, or 1.12% to Rs 896.90 per kg, with a business turnover of 19 lots.

Market analysts said fresh buying by traders following pick-up in spot demand and lower arrivals from Chandausi in Uttar Pradesh mainly pushed up mentha oil prices at futures trade.