Mentha oil gains 0.67% on pick up in demand

Mentha oil prices rose 0.67 per cent to Rs 875 per kg in futures trade today as participants created positions, supported by pick up in demand from consuming industries in spot market.

At the Multi Commodity Exchange, mentha oil for delivery in January rose by Rs 5.90, or 0.67 per cent, to Rs 875 per kg, clocking a business volume of 740 lots.

The oil for delivery in February traded higher by Rs 5.50, or 0.62 per cent, to Rs 887.20 per kg, with a trading volume of 71 lots.

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