Mentha oil up 0.3% on rising demand

Oil for delivery in August edged up by 0.29%

Continuing its rising streak for the third day, mentha oil prices rose 0.33% to Rs 728.20 per kg in futures trade today as speculators engaged in enlarging positions amid rising demand in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in September gained Rs 2.40, or 0.33%, to Rs 728.20 per kg in a business turnover of 77 lots.

In a similar fashion, the oil for delivery in August edged up by Rs 2.10, or 0.29%, to Rs 716 per kg in 337 lots.

Market analysts said besides an upsurge in demand from consuming industries in the spot market, restricted arrivals from Chandausi in Uttar Pradesh, mainly kept mentha oil prices higher at futures trade.