Mentha oil up on pick-up in demand

Mentha oil prices rose by Rs 2.10 to Rs 1,242 per kg in futures trading today as speculators created fresh positions, driven by a rise in demand in the spot market against restricted arrivals from producing belt.     

At the Multi Commodity Exchange, mentha oil for delivery in March rose by Rs 2.10, or 0.17%, to Rs 1,242 per kg in business turnover of 115 lots.

Similarly, the oil for delivery in April edged up by Rs 1.50, or 0.12%, to Rs 1,233 per kg in 17 lot.

Market analysts said fresh positions created by speculators, driven by pick up in demand in the spot market amid lower arrivals from Chandausi in Uttar Pradesh mainly led to rise in mentha oil prices at futures trade.