Mentha oil futures up 1.8% on firm spot demand

NEW DELHI: Mentha oil prices rose by Rs 24.80 to Rs 1,374.20 per kg in futures trading today as speculators created fresh positions, driven by pick-up in demand from pharmaceutical units in the spot market.

Restricted arrivals from Chandausi in Uttar Pradesh also influenced the mentha oil prices at futures trade.

At the Multi Commodity Exchange, mentha oil for delivery in August rose by Rs 24.80, or 1.84 per cent, to Rs 1,374.20 per kg, with a business turnover of nine lots.

Similarly, the oil for delivery in June moved up by Rs 17, or 1.29 per cent, to Rs 1,335 per kg, with a business turnover of 485 lots.

Marketmen said fresh buying by speculators on pick-up in demand from pharmaceutical units and lower arrivals from Chandausi in Uttar Pradesh mainly pushed up mentha oil prices at futures trade.