Mentha oil futures rise 0.27% as demand picks up

NEW DELHI: Mentha oil futures traded higher by 0.27 per cent to Rs 716.50 per kg today after speculators built-up positions, supported by rising demand in the spot market.

Further, restricted arrivals from Chandausi in Uttar Pradesh supported the upside in prices.

At the Multi Commodity Exchange, mentha oil for delivery in July rose by Rs 1.90, or 0.27 per cent, to Rs 716.50 per kg in business turnover of 629 lots.

Likewise, oil for delivery in August edged up by Rs 1.40, or 0.19 per cent, to Rs 732.80 per kg in 180 lots.

Market analysts said the rise in mentha oil futures was mostly due to pick up in demand from consuming industries in the spot market against restricted arrivals from Chandausi in Uttar Pradesh.