Mentha oil futures up on spot demand

Mentha oil prices rose by Rs 10.30 to Rs 1,155.50 per kg in futures trading today, as speculators enlarged their positions on the back of pick up in demand in the spot market.

At the Multi Commodity Exchange, mentha oil for February contract rose Rs 10.30, or 0.90 per cent to Rs 1,155.50 per kg, with a business volume of single lot.

The oil for delivery in March contract also gained Rs 9, or 0.79 per cent to Rs 1,154.50 per kg, with a business turnover of two lots.

Market analysts said fresh positions created by speculators, pick up in domestic and export demand, helped mentha oil futures prices to trade higher.