Mentha oil futures up on high export and local demand

NEW DELHI: Mentha oil prices rose by 0.49 per cent to Rs 839.90 per kg in futures trade today due to the increased domestic as well as exports demand.

The trading sentiment improved further as traders engaged in creating positions on account of higher demand from consuming industries and lower arrivals from Chandausi in Uttar Pradesh.

At the Multi Commodity Exchange, mentha oil for delivery in February rose by Rs 4.10, or 0.49 per cent, to Rs 839.90 per kg, clocking a business volume of 40 lots.

The oil for January contract traded higher by Rs 4, or 0.48 per cent, to Rs 828 per kg, with a trading volume of 283 lots.

Analysts said speculators created fresh positions on the back of a rise in demand from consuming industries in the spot market against restricted supplies from Chandausi in Uttar Pradesh that led to rise in mentha oil prices at futures trade.