Mentha oil futures rise on industrial demand

NEW DELHI: Mentha oil prices rose by Rs 17.10 to Rs 1,151 per kg in futures trade today as speculators engaged in creating positions on account of strong demand from consuming industries and lower arrivals from Chandausi in Uttar Pradesh.

Further, increased export demand also supported the uptrend.

At the Multi Commodity Exchange, mentha oil for October gained 17.10, or 1.50 per cent, to Rs 1,151 per kg, with a trading volume of 298 lots.

Similarly, the oil for delivery in November edged up by Rs 12.70, or 1.10 per cent, to Rs 1,159.90 per kg in 140 lots.

Traders said pick-up in industrial demand and lower arrivals from Chandausi in Uttar Pradesh mainly pushed up mentha oil prices at futures trade.