Mentha oil futures up on spot demand

Mentha oil prices rose by Rs 6.10 to Rs 841.50 per kg in futures trade today after traders created fresh positions, driven by pick-up in spot demand from pharmaceutical units.

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

At the Multi Commodity Exchange, mentha oil for delivery in August rose by Rs 6.10, or 0.73%, to Rs 841.50 per kg, with a business turnover of 123 lots.   

Similarly, the oil for delivery in June gained Rs 5.40, or 0.65%, to Rs 835 per kg, with an open interest of 657 lots.

Market analysts said fresh buying by traders after pick-up in spot demand and lower arrivals from Chandausi in Uttar Pradesh pushed up mentha oil prices at futures trade.