Spot demand lifts mentha oil futures by 0.21%

Mentha oil prices edged up by 0.21 per cent to Rs 1,182.40 per kg in futures trading today as speculators created fresh positions amid pick up in demand from consuming industries against restricted supplies from producing regions.

At the Multi Commodity Exchange, mentha oil for delivery in September rose by Rs 2.50, or 0.21 per cent, to Rs 1,182.40 per kg, in a business turnover of 174 lots.

Similarly, the oil for delivery in October edged up by Rs 1.70, or 0.14 per cent, to Rs 1,196 per kg in five lots.

Analysts said fresh positions built up by traders due to uptick in demand from consuming industries in the spot market against tight stocks position on fall in arrivals from Chandausi in Uttar Pradesh, mainly led to the rise in mentha oil prices at futures trade.