Mentha oil futures rise 0.56 pc on pick-up in demand

Mentha oil prices were trading up 0.56 per cent to Rs 1,674 per kg in futures market today as speculators enlarged positions, amid pick-up in demand from consuming industries in the domestic spot market.
Besides, tight stock positions on restricted arrivals from producing belts and lower output estimates, supported mentha oil prices.
In futures trading at the Multi Commodity Exchange, mentha oil for delivery in the current month rose by Rs 9.40, or 0.56 per cent, to Rs 1,674 per kg, clocking a business volume of 593 lots.
The oil for January delivery traded higher by Rs 8.70, or 0.51 per cent, at Rs 1,701.80 per kg, with a trading volume of 419 lots.

Marketmen said raising of bets by speculators, driven by rising demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.