Seasonal demand lifts mentha oil futures 0.55%

NEW DELHI: Mentha oil prices rose 0.55 per cent to Rs 919.10 per kg in futures trade today as traders created fresh positions, driven by seasonal demand.

Besides, pick up in export enquiries influenced mentha prices.

At the Multi Commodity Exchange, mentha oil for delivery in November rose Rs 5.10, or 0.55 per cent, to Rs 919.10 per kg, clocking a business volume of 571 lots.

The oil for October delivery traded higher by Rs 3.50, or 0.38 per cent, to Rs 905 per kg, with a trading volume of 222 lots.

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