Mentha oil futures rise 0.74% as demand picks up

Mentha oil prices moved up by 0.74 per cent to Rs 1,171.40 per kg in futures trade today as speculators created fresh positions amid pick-up in demand from consuming industries against restricted supplies from producing regions.
At the Multi Commodity Exchange, mentha oil for delivery in August rose by Rs 8.60, or 0.74 per cent to Rs 1,171.40 per kg in business turnover of 350 lots.
Similarly, the oil for delivery in September contracts traded higher by Rs 8.20, or 0.70 per cent to Rs 1,184.20 per kg in 137 lots.
Market analysts attributed the rise in mentha oil in futures trade to pick up in demand from consuming industries against tight stocks position on fall in arrivals from Chandousi in Uttar Pradesh.