Mentha oil up 0.6% on spot demand

Mentha oil futures prices shot up by Rs 9.30 to Rs 1518.60 per kg today, as speculators created fresh positions after pick-up in demand from pharmaceutical units in the spot market.

Less arrivals from major producing area of Chandousi in Uttar Pradesh further supported the uptrend in mentha oil futures prices.

At the Multi Commodity Exchange, mentha oil for delivery in February shot up by Rs 9.30, or 0.62%, to Rs 1,518.60 per kg in business turnover of 540 lots.

The March contract jumped up by Rs 9.20, or 0.60%, to Rs 1,537 per kg in 53 lots.

Analysts said fresh buying by speculators on the back of firming trend at the spot markets on pick up in demand from pharmaceutical units, less arrivals from Chandausi in Uttar Pradesh also influenced mentha oil prices at futures market here.