Mentha oil trades higher by 0.7% on rising demand

Speculators enlarged positions amid pick-up in demand at spot markets

Amid rising domestic demand against tight supplies from producing belts, mentha oil prices traded higher by 0.66% to Rs 873.00 per kg in futures trade today as speculators enlarged positions.

At the Multi Commodity Exchange, mentha oil for delivery in April gained Rs 5.70, or 0.66% to Rs 873.00 per kg in business turnover of 361 lots.

Similarly, the oil for delivery in May contracts traded higher by Rs 5, or 0.57% to Rs 883.00 per kg in 55 lots.

Analysts attributed to rise in mentha oil futures to increasing positions by speculators on the back of rising demand from consuming industries in the physical markets amid restricted arrivals from Chandausi in Uttar Pradesh.