Mentha oil rises in futures trade as demand picks-up

Mentha oil prices rose by Rs 10.10 to Rs 973 per kg in futures market today as speculators enlarged their positions, driven by pick-up in spot demand.  

Tight supply following less arrivals in the physical markets also influenced the mentha oil futures prices. 

At the Multi Commodity Exchange, mentha oil for delivery in May rose by Rs 10.10, or 1.05% to Rs 973 per kg, with business volume of 95 lots. 

Likewise, the oil for delivery in June gained Rs 2.60, or 0.29% to Rs 903 per kg, with trade volume of 57 lots.

Market analysts said increased buying by speculators on pick-up in spot market demand against restricted arrivals from Chandausi market in Uttar Pradesh mainly pushed up mentha oil prices at futures trade.