Mentha oil rises 0.34% on pick up in demand

Restricted arrivals from producing belts support uptrend

 

Mentha oil prices were up by 0.34 per cent to Rs 746.40 per kg in futures trading today as speculators enlarged positions amid positive cues from spot market on pick-up in demand from consuming industries.

Restricted arrivals from producing belts supported the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in February was up by Rs 2.50, or 0.34 per cent, to Rs 746.40 per kg in a business turnover of 128 lots.

The March contract gained Rs 2, or 0.27 per cent, to Rs 755.80 per kg in 13 lots.

Analysts said speculators enlarged positions on the back of pick-up in demand from consuming industries in the spot market against limited supplies from Chandausi in Uttar Pradesh which led to rise in mentha oil prices at futures trade.