Mentha oil up 0.8% as demand picks up

Oil for delivery in June contract edged up by 0.69%

Mentha oil prices were up by 0.78% to Rs 788.80 per kg in futures trade today as speculators indulged in creating fresh positions, supported by pick up in spot demand.

Restricted arrivals from Chandausi in Uttar Pradesh also influenced mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in July moved up by Rs 6.10, or 0.78% to Rs 788.80 per kg in business turnover of 108 lots.

Similarly, the oil for delivery in June contract edged up by Rs 5.30, or 0.69%, to Rs 774.50 per kg in 212 lots.

Analysts said fresh positions built-up by speculators due to pick up in demand from consuming industries in the spot market amid restricted arrivals from Chandausi in Uttar Pradesh, mainly led to rise in mentha oil prices at futures trade.