Mentha oil futures remain up on spot demand

Mentha oil remained higher by adding Rs 2.80 to Rs 856.70 per kg in futures trading today as speculators enlarged positions, driven by a rising demand from consuming industries in the spot market.

Restricted arrivals from Chandausi in Uttar Pradesh also fuelled the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in November added Rs 2.80, or 0.33%, to Rs 856.70 per kg in business turnover of 203 lots.

Similarly, oil for delivery in December gained Rs 2.10, or 0.24%, to Rs 869 per kg in 39 lots.

Market analysts said speculators enlarging their positions, driven by a rising demand from consuming industries amid restricted arrivals from Chandausi in Uttar Pradesh mainly influenced mentha oil prices at futures trade. PTI KPS SUN RS STS