Mentha oil futures rise 0.28 pc as demand picks up

Mentha oil prices moved up by 0.28 per cent to Rs 998 per kg in futures market today as speculators built up fresh positions amid pick-up in demand from consuming industries at domestic spot market against restricted arrivals from producing regions.
At the Multi Commodity Exchange, mentha oil for delivery in April moved up by Rs 2.80, or 0.28 per cent to Rs 998 per kg in a business turnover of 94 lots.
Similarly, the oil for delivery in March was trading up by Rs 1.50, or 0.15 per cent to Rs 987.30 per kg in 10 lots.
Marketmen said, fresh positions built up by traders following uptick 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.