Mentha oil rises 2.31 per cent on spot demand

NEW DELHI: Mentha oil moved up by 2.31 per cent to Rs 739 per kg in futures market today as traders built up positions triggered by rising demand from consuming industries in the spot market.

Further, tight stock position following restricted arrivals from producing regions supported the upside.

At the Multi Commodity Exchange, mentha oil for delivery in January was up Rs 16.70, or 2.31 per cent, to Rs 739 per kg in business turnover of 418 lots.

Similarly, oil for delivery in December traded higher by Rs 15.60, or 2.19 per cent, to Rs 727 per kg in 970 lots.

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