Mentha oil futures up 0.18 per cent as demand picks up

NEW DELHI: Mentha oil prices up by 0.18 per cent to Rs 793.60 per kg in futures trade today as participant created fresh positions, driven by pick-up in demand from consuming industries in spot markets.

Tight stocks availability in the physical market due to lower arrivals from Chandausi in Uttar Pradesh also supported the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in March up by Rs 1.40, or 0.18 per cent to Rs 793.60 per kg in business turnover of 40 lots.

Likewise, the oil for delivery in February traded higher by 50 paise, or 0.06 per cent to Rs 782.70 per kg in 148 lots.

Analysts said fresh positions created by participants following rising demand from consuming industries in the spot market against lower arrivals from Chandausi in Uttar Pradesh mainly led to rise in mentha oil prices at futures trade.