Mentha oil futures up 0.38% on upsurge in demand

Amid uptick in demand from consuming industries in the spot market and restricted supplies from producing regions, mentha oil prices traded higher by 0.38 per cent to Rs 953.70 per kg in futures trading today as traders created fresh positions.

At the Multi Commodity Exchange, mentha oil for delivery in far-month September rose by Rs 3.60, or 0.38 per cent to Rs 953.70 per kg in business turnover of 30 lots.

Likewise, the oil for delivery in August contracts edged up by Rs 3.40, or 0.36 per cent to Rs 942.60 per kg in 406 lots.

Analysts said fresh positions built up by participants due to pick up in demand from consuming industries in the physical market against restricted supplies from Chandausi in Uttar Pradesh, mainly attributed the rise in mentha oil prices at futures trade.