Mentha oil up by 0.3% on rising demand

Mentha oil prices were up by 0.35% to Rs 912 per kg in futures trade today as speculators created fresh positions amid a firming trend at spot market on rising demand from consuming industries.

Besides, tight stocks position following restricted arrivals from major growing belts of Chandausi in Uttar Pradesh, also supported the rise in mentha oil futures.

At the Multi Commodity Exchange, mentha oil for delivery in February gained Rs 3.20, or 0.35%, to Rs 912 per kg, with a trading volume of 168 lots.

Similarly, the oil for delivery in March edged up by Rs 2.30, or 0.25%, to Rs 921.60 per kg, with a business turnover of 10 lots.
 

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