Mentha oil futures edge higher on rising demand

Mentha oil prices rose by 0.69 per cent to Rs 1,053.80 per kg in futures trade today as participants built up fresh positions amid rising demand from consuming industries at the spot market.

Besides, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also added support to mentha oil prices uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in February was up by Rs 7.30, or 0.69 per cent, to Rs 1,053.80 per kg, clocking a business volume of 62 lots.

Also, the oil for delivery this month traded higher by Rs 5.90, or 0.56 per cent, to Rs 1,048 per kg, with a trading volume of 398 lots.
 

Analysts said rising demand from consuming industries at spot market mainly supported the upmove in mentha prices at the futures trade.