Mentha oil up 0.65 pc on firm demand

Mentha oil prices were trading up

0.65 per cent to Rs 1,715 per kg in futures market after participants raised bets on rise in demand from consuming industries at the spot markets.

Tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also supported the uptrend in mentha oil prices.

In futures trading at the Multi Commodity Exchange, mentha oil for delivery in current month rose by Rs 11.10, or 0.65 per cent, to Rs 1,715 per kg, clocking a business volume of 1,000 lots.

Marketmen said raising of bets by speculators, driven by rising demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.