Mentha oil gains 0.8% on pick-up in demand

Mentha oil prices rose 0.77% to Rs 912 per kg in futures market today after 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 February rose by Rs 7 or 0.77% to Rs 912 per kg, clocking a business volume of 142 lots.

The oil for March delivery traded higher by Rs 5.80 or 0.63% to Rs 922 per kg, with a trading volume of 18 lots.

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