Mentha oil futures up 0.56% on spot demand

Mentha oil prices recovered by Rs 6 to Rs 1,084.20 per kg in futures trade today as speculators created fresh positions, driven by pick-up in demand in the spot market.

At the Multi Commodity Exchange, mentha oil for September delivery recovered by Rs 6, or 0.56%, to Rs 1,084.20 per kg, with a business turnover of 127 lots.  

Likewise, the oil for August delivery moved up by Rs 4.70, or 0.44%, to Rs 1,077.50 per kg, with an open interest of 314 lots.    

Market analysts said fresh positions created by speculators, driven by pick-up in spot demand amid restricted arrivals from Chandausi in Uttar Pradesh mainly pushed up mentha oil prices at futures trade.