Mentha oil futures gain 0.29% on spot demand

NEW DELHI: Mentha oil futures prices were up by 0.29 per cent to Rs 683.40 per kg in futures trade today as speculators indulged in creating fresh positions, driven by pick-up in demand from consuming industries in spot market.

Tight supplies in the physical market on restricted arrivals from Chandausi in Uttar Pradesh also influenced mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in October rose Rs 2, or 0.29 per cent, to Rs 683.40 per kg in business turnover of 58 lots.

Likewise, the oil for delivery in September edged up by Rs 1.90, or 0.28 per cent, to Rs 672 per kg in 166 lots.

Market analysts said pick-up in demand from consuming industries in the spot market against restricted arrivals from Chandausi in Uttar Pradesh, mainly led to the rise in mentha oil prices at futures trade.