Mentha oil futures up 1.02% on industrial demand

NEW DELHI: Mentha oil futures prices today shot up by 1.02 per cent to Rs 978 per kg as traders created fresh positions, driven by rise in spot market demand.

Increasing demand from industrial units and limited supply from the producing areas led to rise in mentha oil futures prices.

At the Multi Commodity Exchange, mentha oil for delivery in June gained Rs 10.10, or 1.02 per cent, to Rs 978 per kg, with a trading volume of 602 lots.

Similarly, the oil for delivery in July edged up by Rs 4.90, or 0.49 per cent, to Rs 986.10 per kg, with a business turnover of 126 lots.

Marketmen said a firming trend at the spot markets amid restricted supplies from Chandausi in Uttar Pradesh mainly influenced mentha oil prices at futures trade here.