Mentha oil up by 0.3% on spot demand

Oil for delivery in October edged up by 0.29%

Mentha oil prices moved up by 0.34% to Rs 867 per kg in futures trading today as speculators created fresh positions after pick up in demand from consuming industries in the spot market against tight supplies.

At the Multi Commodity Exchange, mentha oil for November rose by Rs 2.90, or 0.34%, to Rs 867 per kg in business turnover of 46 lots.

In a similar fashion, oil for delivery in October edged up by Rs 2.50, or 0.29%, to Rs 854 per kg in 142 lots.

Market analysts attributed the rise in mentha oil at futures trade to pick-up in demand from consuming industries in the spot market against tight supplies due to less arrivals from Chandausi in Uttar Pradesh.