Spot demand lifts mentha oil futures by 0.35 pc

Mentha oil prices surged 0.35 per cent to Rs 842.80 per kg in futures trade today after participants enlarged their positions amid firming trend at the spot market on pick-up in demand from consuming industries.

Tight stocks position following restricted arrivals from Chandausi in Uttar Pradesh in the physical market supported the uptrend in mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in July gained Rs 3 or 0.35 per cent to Rs 842.80 per kg with a trading volume of 66 lots.

The oil for delivery in June edged up by Rs 2.30 or 0.27 per cent to Rs 831.30 per kg with a business turnover of 275 lots.
 

Marketmen said a firming trend at the spot market amid restricted supplies from Chandausi in Uttar Pradesh mainly influenced mentha oil prices at the futures trade.