Mentha oil up by 0.3% on spot demand

Mentha oil prices were up 0.29% to Rs 909 per kg in futures trading today as speculators created fresh positions, tracking a firming trend at spot market on increased demand from consuming industries.

At the Multi Commodity Exchange, mentha oil for delivery in January next year edged up by Rs 2.70, or 0.29% to Rs 909 per kg in a business turnover of 104 lots.

Also, oil for delivery this month traded higher by Rs 2.40, or 0.26% to Rs 896 per kg in 101 lots.

Market analysts said fresh positions built up by speculators following increased demand from consuming industries at the spot market against less arrivals from Chandausi in Uttar Pradesh, led to rise in mentha oil prices at futures trade.