Mentha oil futures remain up on increased demand

NEW DELHI: Mentha oil remained firm and prices rose by another 0.21 per cent to Rs 1,068 per kg in futures market today as speculators enlarged their positions driven by rising demand in spot markets amid tight stocks following restricted arrivals from Chandausi in Uttar Pradesh.

At the Multi Commodity Exchange, mentha oil for delivery in July gained Rs 2.20, or 0.21 per cent, to Rs 1,068 per kg in business turnover of 445 lots.

Similarly, the oil for delivery in the June contract edged up by Rs 1.90, or 0.18 per cent, to Rs 1,055.10 per kg in 1,040 lots.

Market analysts said besides increased demand from consuming industries in the spot market, tight supplies due to less arrivals from Chandausi in Uttar Pradesh mainly kept mentha oil prices remain up at the spot market.