Mentha oil rises on industrial demand

Mentha oil prices moved up by Rs 5 to Rs 1,583.70 per kg in futures market today as traders indulged in creating positions, driven by pick up in industrial demand in the spot market.

Restricted arrivals from Chandausi in Uttar Pradesh also influenced the mentha oil prices at futures trade.

At the Multi Commodity Exchange, teh February contract for mentha oil rose by Rs 5, or 0.32%, to Rs 1,583.70 per kg in business turnover of 989 lots.

The March contract moved up by Rs 4.50, or 0.27% to Rs 1,605.10 per kg in 201 lots.

Marketmen said fresh buying by traders due to pick up in spot demand amid less arrivals from Chandausi in Uttar Pradesh mainly pushed up mentha oil futures prices.