Mentha oil rises by 1.2% on high demand

Mentha oil prices rose by 1.20% to Rs 799.60 per kg in futures trade today as traders enlarged positions amid pick-up in demand from consuming industries.

At the Multi Commodity Exchange, mentha oil for delivery in April was up Rs 9.50, or 1.20%, to Rs 799.60 per kg, clocking a business volume of 91 lots.

The oil for March contract traded higher by Rs 8.40, or 1.07%, to Rs 790.40 per kg, with a trading volume of 730 lots.

Analysts said fresh positions created by speculators on the back of better demand from consuming industries in the spot market against restricted supplies from Chandausi in Uttar Pradesh mainly led to rise in mentha oil prices at futures trade.