Mentha oil futures gain 0.37 pc on spot demand

Mentha oil prices edged up by 0.37 per cent to Rs 1,229.60 per kg in futures market today as speculators created fresh positions, taking positive cues from spot market on pick-up in demand from consuming industries.
At the Multi Commodity Exchange, mentha oil for delivery in November rose by Rs 4.50, or 0.37 per cent, to Rs 1,229.60 per kg in a business turnover of 34 lots.
Similarly, the oil for delivery in October traded higher by Rs 4.40, or 0.36 per cent, to Rs 1,216 per kg in 141 lots.
Analysts said fresh position built up by participants after upsurge in demand from consuming industries in the physical market, mainly influenced mentha oil prices at futures trade.