Mentha oil futures up on rising spot demand

Mentha oil futures prices gained by Rs 12.60 to Rs 1,247.20 per kg today, as traders created fresh positions, driven by pick up in demand at spot markets.

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

At the Multi Commodity Exchange, mentha oil for delivery in January gained by Rs 12.60, or 1.02 per cent to Rs 1,247.20 per kg, while December contract edged up by Rs 11.50 or 0.94 per cent to Rs 1,234.20 per kg.

Similarly, the oil for delivery in November rose by Rs 11, or 0.91 per cent to Rs 1,217 per kg.

Analysts said fresh buying by traders, following pick up in spot demand and lower arrivals from Chandausi in Uttar Pradesh pushed up mentha oil futures prices.