Mentha oil up 0.6% on spot demand

Oil for delivery in January edged up by 0.5%

Mentha oil rose by 0.62% to Rs 850.70 per kg in futures trade today as traders created fresh positions driven by pick up in demand from consuming industries in spot markets.

At the Multi Commodity Exchange, mentha oil for delivery in December gained Rs 5.30, or 0.62%, to Rs 850.70 per kg with a trading volume of 296 lots.

Similarly, oil for delivery in January edged up by Rs 4.30, or 0.50%, to Rs 863.30 per kg, with a business turnover of 88 lots.

Marketmen said a firming trend at the spot markets amid restricted supplies from Chandausi in Uttar Pradesh mainly influenced mentha oil prices at futures trade here.