Mentha oil futures rise 0.23 per cent on pick-up in demand

NEW DELHI: Mentha oil prices moved up by 0.23 per cent to Rs 707.10 per kg in futures trade today as speculators created fresh positions amid pick-up in domestic and export demand in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in August gained Rs 1.60, or 0.23 per cent, to Rs 707.10 per kg in a business turnover of 164 lots.

Similarly, the oil for delivery in September edged up by Rs 1.20, or 0.17 per cent, to Rs 719.50 per kg in 30 lots.

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