Mentha oil futures rise on pick up in demand

New Delhi, Mentha oil prices rose by 0.36 per cent to Rs 909.30 per kg in futures trade today as participants were building fresh positions, driven by rising demand from consuming industries at the spot market.

Besides, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also added support to mentha oil prices uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in current month was up by Rs 3.30 or 0.36 per cent to Rs 909.30 per kg clocking a business volume of 162 lots.

Also, the oil for delivery in September traded higher by Rs 2.40 or 0.26 per cent to Rs 920.50 per kg with a trading volume of 21 lots.

Analysts said rising demand from consuming industries at spot market mainly supported the increase in mentha prices at futures trade here.