Mentha oil futures up on improved demand

Mentha oil traded higher 0.63 per cent to Rs 860.70 per kg in futures market today as speculators built up fresh positions on the back of improved demand from consuming industries at the spot market.

Besides, restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also fuelled the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in August rose by Rs 5.40 or 0.63 per cent to Rs 860.70 per kg, clocking a business volume of 106 lots.

The oil for this month delivery traded higher by Rs 5.20 or 0.62 per cent to Rs 849.40 per kg with a trading volume of 448 lots.
 

Analysts said fresh positions built up by speculators on the back of rising demand from consuming industries in the spot markets against restricted supplies from Chandausi led to the rise in mentha oil prices at futures trade.