Mentha oil futures up on spot demand

Mentha oil prices rose by Rs 6.50 to Rs 1,046.40 per kg at futures trading today as speculators created fresh positions on the back of increased demand by pharmaceutical units.

At the Multi Commodity Exchange, mentha oil for delivery in April rose by Rs 6.50, or 0.63%, to Rs 1,046.40 per kg, with a business turnover of two lots.

The May contract gained Rs 3.60, or 0.37%, to Rs 977, with an open interest for a single lot.

Market analysts said creation of fresh positions by speculators on the back of pick-up in domestic and export demand led to the rise in mentha oil futures prices.