Mentha oil futures gain 0.45 pc on pick up in demand

NEW DELHI: Mentha oil futures prices gained 0.45 per cent to Rs 1,391.80 per kg today as speculators created fresh positions, driven by pick-up in demand from pharmaceutical units in the spot market.

Restricted arrivals due to dry weather in the key growing areas also influcneced the mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in June rose by Rs 6.20, or 0.45 per cent, to Rs 1,391.80 per kg in business turnover of 372 lots.

Similarly, the oil for delivery in July edged up by Rs 1.90, or 0.14 per cent, to Rs 1,406 per kg in 114 lots.

Marketmen said fresh positions built-up by speculators on the back of pick-up in demand from pharmaceutical units and less arrivals from Chandausi in Uttar Pradesh mainly led to rise in mentha oil prices at futures trade.