Mentha oil futures gain 1.49% on spot demand

NEW DELHI: Mentha oil futures rose 1.49 per cent to Rs 720 per kg in futures trade today as speculators created fresh positions amid pick-up in domestic and export demand.

Besides, tight stocks position in the physical market on restricted arrivals from Chandausi in Uttar Pradesh, supported the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in September moved up by Rs 10.60, or 1.49 per cent, to Rs 720.00 per kg in a business turnover of 252 lots.

Likewise, the oil for delivery in August traded higher by Rs 10.30, or 1.48 per cent, to Rs 707.10 per kg in 582 lots.

Marketmen said besides rising domestic as well as export demand, restricted arrivals from Chandausi in Uttar Pradesh, pushed up mentha oil prices at futures trade.