Mentha oil rise 0.2% following pick up in demand

Mentha oil prices were up by 0.24% to Rs 740.80 per kg in futures market here today as speculators indulged in creating fresh positions, triggered by rising demand in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in January month rose Rs 1.80, or 0.24% to Rs 740.80 per kg in business turnover of 162 lots.

Similarly, the oil for delivery in February contracts edged higher by 70 paise, or 0.23% to Rs 750.60 per kg in 96 lots.

Market analysts attibuted the rise in mentha oil futures to pick up in demand from consuming industries in the spot market against restricted arrivals from Chandausi in Uttar Pradesh.