Mentha oil futures recover 0.59% on spot demand

Mentha oil prices were up by 0.59 per cent to Rs 815.20 per kg in futures trading today as traders created fresh positions, driven by pick up in demand in the spot market.
Tight stocks position on restricted supplies from producing regions fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in far-month May rebounded by Rs 4.80, or 0.59 per cent to Rs 815.20 per kg in business turnover of 6 lots.
On similar lines, the oil for delivery in April contracts was trading higher by Rs 4.50, or 0.56 per cent to Rs 804.30 per kg in 128 lots.

Analysts said fresh positions built up by participants on the back of improved demand from consuming industries in the spot market amid restricted supplies from Chandausi in Uttar Pradesh led to the rise in mentha oil prices at futures trade.