Mentha oil moves up by 0.50% in futures trade on spot demand

Mentha oil prices were up 0.50 per cent to Rs 1,011.90 per kg in futures market today as speculators created fresh positions, tracking a firm trend at the spot market on strong demand.

At the Multi Commodity Exchange, mentha oil for delivery in March went up by Rs 5.00, or 0.50 per cent to Rs 1,011.90 per kg in business turnover of 7 lots.

Similarly, the oil for delivery in February contracts was trading higher by Rs 4.70, or 0.47 per cent to Rs 1,003.20 per kg in 88 lots.

Analysts said that traders created fresh positions due to pick up in demand from consuming industries in the spot markets against restricted supplies from Chandausi in Uttar Pradesh, mainly influenced mentha oil prices at futures trade.