Mentha oil futures gain 2% as demand picks up

Mentha oil prices were up by 2 per cent to Rs 1,035 per kg in futures trading today on uptick in demand from consuming industries.

At the Multi Commodity Exchange, mentha oil for delivery in July month rose by Rs 20.30, or 2 per cent to Rs 1,035 per kg in business turnover of 514 lots.

Likewise, the oil for delivery in August month traded higher by Rs 20.10, or 1.96 per cent to Rs 1,045 per kg in 568 lots.

Analysts said widening of positions by speculators, driven by pick up in demand from consuming industries in the spot market against tight stocks position on restricted supplies from Chandausi led to the rise in mentha oil prices in futures trade.