Upsurge in demand lifts mentha oil by 0.88%

Mentha oil prices went up by 0.88 per cent to Rs 1,323.30 per kg in futures trading today as participants raised their bets on uptick in demand from consuming industries at the spot market against restricted supplies from producing belts.

At the Multi Commodity Exchange, mentha oil for delivery in November rose by Rs 11.60, or 0.88 per cent to Rs 1,323.30 per kg in a business turnover of 250 lots.

Marketmen said widening of positions 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.