Mentha oil futures up on spot demand

Mentha oil prices moved up by Rs 16.70 to Rs 1,315 per kg in futures trade today as speculators created fresh positions, supported by a pick-up in spot demand.

At the Multi Commodity Exchange, mentha oil for delivery in March rose by Rs 16.70, or 1.29 per cent, to Rs 1,315 per kg, with a business volume of a single lot.

Likewise, the oil for delivery in April gained Rs 4.30, or 0.38 per cent, to Rs 1,131.50 per kg, with an open interest of just one lot. 

Market analysts said fresh positions created by speculators, supported by pick up in domestic and export demand, led to rise in mentha oil futures prices.