Spot demand lifts mentha oil futures by 0.56%

NEW DELHI: Mentha oil prices were up by 0.56 per cent to Rs 903.90 per kg in futures trade today after participants enlarged their positions amid firming trend at the spot market on pick-up in demand from consuming industries.

Further, tight stocks position following restricted arrivals from Chandausi in Uttar Pradesh in the physical market supported the upside in mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in March gained Rs 5.10 or 0.56 per cent to Rs 903.90 per kg, with a trading volume of 186 lots.

Similarly, the oil for delivery in April edged up by Rs 4.40 or 0.48 per cent to Rs 915.70 per kg, with a business turnover of 29 lots.

Marketmen said a firming trend at the spot market amid restricted supplies from Chandausi in Uttar Pradesh, mainly influenced mentha oil prices at the futures trade.