Spot demand lifts mentha oil futures by 0.52%

Mentha oil prices were up 0.52 per cent to Rs 924.50 per kg in futures trade today as traders created fresh positions, supported by pick-up in demand from consuming industries in the spot market.

At Multi Commodity Exchange, mentha oil for delivery in September was trading higher by Rs 4.80, or 0.52 per cent, to Rs 924.50 per kg, clocking a business volume of 369 lots.

The oil for October delivery traded higher by Rs 4.50, or 0.48 per cent, to Rs 936.30 per kg, with a trading volume of 75 lots.

Analysts said fresh positions built up by speculators on the back of a rising demand from consuming industries in the spot market against restricted supplies from Chandausi in Uttar Pradesh led to the rise in mentha oil prices.