Mentha oil prices up as industrial demand picks up

NEW DELHI: Mentha oil prices rose by Rs 4.20 to Rs 672.20 per kg in futures trading today as traders indulged in creating fresh positions, driven by pick up in demand from consuming industries.

Restricted supply from Chandausi, a major producing region also influenced the trading sentiments.

At the Multi Commodity Exchange, mentha oil for April contract rose by Rs 4.20, or 0.63 per cent to Rs 672.20 per kg with an open interest of 3,249 lots.

The oil for delivery in May also gained Rs 2.60, or 0.39 per cent to Rs 670 per kg with business turnover of 2,056 lots.

Traders said pick up in demand from consuming industries in the spot market and limited supply from Chandausi, Uttar Pradesh mainly led to rise in mentha prices at futures market.