Mentha oil futures up 0.74 pc on industrial demand

NEW DELHI: Mentha oil prices rose by 0.74 per cent to Rs 826.90 per kg in futures trade today today as speculators created positions, driven by increased industrial demand in the spot market against tight supplies.

At the Multi Commodity Exchange, mentha oil for delivery in August month rose by Rs 6.10, or 0.74 per cent, to Rs 826.90 per kg in business turnover of 515 lots.

Similarly, the oil for delivery in September contract traded higher by Rs 5.60, or 0.67 per cent, to Rs 841.10 per kg in 99 lots.

Market analysts said speculators created fresh positions, driven by increased industrial demand in the spot market against lower arrivals from Chandausi in Uttar Pradesh mainly pushed up mentha oil prices at futures trade.