Mentha oil rises 0.30 pc as demand picks up

NEW DELHI: Mentha oil traded 0.30 per cent higher at Rs 818 per kg in futures trade today as traders created fresh positions, driven by pick-up in demand from consuming industries in spot markets.

At the Multi Commodity Exchange, mentha oil for delivery in February rose by Rs 2.50, or 0.30 per cent, to Rs 818 per kg, clocking a business volume of 93 lots.

The oil for March contract traded higher by Rs 1.40, or 0.16 per cent, to Rs 827 per kg, with a trading volume of 827 lots.

Analysts said increased positions created by speculators on the back of a rise in demand from consuming industries in the spot market against restricted supplies from Chandausi in Uttar Pradesh mainly influenced mentha oil prices at futures trade.