Upsurge in demand lifts mentha oil futures 0.86 pc

Mentha oil prices moved up by 0.86 per cent to Rs 952.90 per kg in futures market today as participants built up fresh positions, driven by pick up in demand from consuming industries in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in May rose by Rs 8.10, or 0.86 per cent, to Rs 952.90 per kg in a business turnover of 64 lots.

Similarly, the oil for delivery in June traded higher by Rs 7.40, or 0.80 per cent to Rs 928.80 per kg in 20 lots.

Analysts attributed the rise in mentha oil futures to fresh positions created by traders due to pick up in demand from consuming industries in the spot markets against restricted supplies from Chandausi in Uttar Pradesh.