Mentha oil futures rise 0.80 per cent as demand picks up

NEW DELHI: Mentha oil prices rose by 0.80 per cent to Rs 859.50 per kg in futures trade today as speculators enlarged positions, supported by pick up in demand from consuming industries in the spot market.

Tight stocks position in the physical market due to less arrivals from Chandausi in Uttar Pradesh fuelled the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in November rose by Rs 6.80, or 0.80 per cent, to Rs 859.50 per kg in a business turnover of 236 lots.

Similarly, oil for delivery in December traded higher by Rs 6.70, or 0.77 per cent, to Rs 871.50 per kg in 116 lots.

Analysts attributed the rise in mentha oil futures to pick up in demand from consuming industries amid less arrivals from Chandausi in Uttar Pradesh which mainly helped mentha oil prices to trade higher at futures trade.