Mentha oil futures gain 0.53% on pick up in demand

Supported by improved domestic demand and tight supplies from producing belts, mentha oil futures traded higher by 0.53 per cent to Rs 816.50 per kg today as speculators created fresh positions.
At the Multi Commodity Exchange, mentha oil for delivery in March month rose by Rs 4.30, or 0.53 per cent to Rs 816.50 per kg in business turnover of 79 lots.
Similarly, the oil for delivery in April contracts edged up by Rs 3.70, or 0.40 per cent to Rs 826 per kg in 324 lots.
Analysts attributed the rise in mentha oil futures to pick up in demand from consuming industries in the spot market against restricted supplies from Chandausi in Uttar Pradesh.