Mentha oil rises in futures trade on spot demand

Mentha oil prices traded higher by Rs 1.80, or 0.23 per cent, to Rs 779 per kg in futures trade today, as traders enlarged their positions on better demand in the spot market against restricted arrivals.

At the Multi Commodity Exchange platform, mentha oil for August gained Rs 1.80, or 0.23 per cent, to Rs 779.60 per kg, with an open interest of 4,531 lots.

Similarly, the oil for delivery in September-month traded higher by Rs 1.40, or 0.18 per cent, to Rs 791.50 per kg, with an open interest of 5,210 lots. 

Marketmen said pick up in demand in the spot market, against restricted supplies from Chandausi in Uttar Pradesh increased mentha oil prices at futures market here.