Mentha oil futures gain 0.34 pc on spot demand

Mentha oil prices moved up by 0.34 per cent to Rs 1,010.90 per kg in futures trading today as participants created fresh positions due to pick-up in demand from consuming industries in the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in February edged up by Rs 3.40, or 0.34 per cent, to Rs 1,010.90 per kg in a business turnover of 59 lots.
Likewise, the oil for delivery in March traded higher by Rs 3.10, or 0.30 per cent, to Rs 1,022.20 per kg in 169 lots.
Analysts said, fresh positions built up by speculators, driven by pick-up in demand from consuming industries in the spot markets against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.