Mentha oil futures rise on spot demand

Mentha oil prices rose Rs 10.30, or 1.21 per cent, to Rs 859.40 per kg in futures trade today, as speculators created fresh positions driven by a rise in demand at spot markets.

Restricted arrivals in the physical market also, influenced the trading sentiment in futures trading.

At the Multi Commodity Exchange counter, mentha oil for November-month rose by Rs 10.30, or 1.21 per cent, to Rs 859.40 per kg, with an open interest of 963 lots.

Similarly, the oil for delivery in September gained Rs 8.90, or 1.08 per cent to Rs 835.20 per kg, with a business turnover of 5,788 lots.

 

Marketmen said fresh buying by speculators following pick up in spot demand and restricted arrivals from Chandausi in Uttar Pradesh mainly pushed up mentha oil prices at futures trade.