Mentha oil up 1% on spot demand

Oil for delivery in November edged up by 0.95%

Mentha oil futures shot up by 1.03% today to Rs 684 per kg as traders created fresh positions amid pick-up in demand from consuming industries in spot markets.

At the Multi Commodity Exchange, mentha oil for delivery in October gained Rs 7, or 1.03%, to Rs 684 per kg, with a trading volume of 372 lots.

Similarly, the oil for delivery in November edged up by Rs 6.60, or 0.95%, to Rs 694.50 per kg, in a business turnover of 793 lots.

Marketmen said a firming trend at the spot markets amid restricted supplies from Chandausi in Uttar Pradesh mainly influenced mentha oil prices in futures trade here.