Mentha oil gains 0.9% on pickup in demand

Mentha oil prices rose 0.89 per cent to Rs 951.80 per kg in futures trade today as traders created fresh positions, supported by pickup in demand from consuming industries in spot market.

At the Multi Commodity Exchange, mentha oil for delivery in August rose by Rs 8.40, or 0.89 per cent, to Rs 951.80 per kg, clocking a business volume of 865 lots.

The oil for September delivery traded higher by Rs 8.10, or 0.84 per cent, to Rs 964.90 per kg, with a trading volume of 488 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 rise in mentha oil prices at futures trade.