Uptick in demand lifts mentha oil futures by 0.46%

Mentha oil prices edged up by 0.46 per cent to Rs 926 per kg in futures trade today as speculators built fresh positions after pick-up in demand from consuming industries at the spot market.

At Multi Commodity Exchange, mentha oil for delivery in June contracts went up by Rs 4.20, or 0.46 per cent, to Rs 926 per kg in a business turnover of 221 lots.

Similarly, oil for July contracts edged higher by Rs 3.60, or 0.38 per cent, to Rs 939.70 per kg in 63 lots.

Market analysts said fresh positions created by traders due to surge in demand from consuming industries in the spot markets against restricted supplies from Chandausi pushed up the mentha oil prices.