Mentha oil futures gain 0.27 pc as demand picks up

Amid pick up in demand from consuming industries in the spot market against restricted supplies from producing belts, mentha oil prices edged up by 0.27 per cent to Rs 868.70 per kg in futures trade as participants created fresh positions.
At the Multi Commodity Exchange, mentha oil for delivery in October rose by Rs 2.30, or 0.27 per cent to Rs 868.70 per kg in a business turnover of 125 lots.
On similar lines, the oil for delivery in November edged up by Rs 1.60, or 0.18 per cent to Rs 876.70 per kg in 51 lots.
Analysts said fresh positions built-up by traders on the back of pick-up in demand from consuming industries in the spot markets against tight stocks position on restricted supplies from Chandausi led to the rise in mentha oil prices in futures trade.