Mentha oil futures marginally up on spot demand

NEW DELHI: Mentha oil futures traded a shade higher at Rs 699.80 per kg in futures trade today as traders created fresh positions amid pick-up in spot market demand.

Besides, rising exports demand and limited supplies from producing areas also supported the upside in mentha oil futures.

At the Multi Commodity Exchange, mentha oil for delivery in August gained Rs 3, or 0.43 per cent, to Rs 699.80 per kg, with a trading volume of 137 lots.

Similarly, the oil for delivery in September edged up by Rs 2.70, or 0.38 per cent, to Rs 712.10 per kg, with a business turnover of 31 lots.

Marketmen said a firming trend at the spot market on rising domestic and export demand amidst restricted supplies from Chandausi in Uttar Pradesh, mainly influenced mentha oil prices at futures trade here.