Mentha oil futures rise 0.93% on strong demand

Rising for the second day, mentha oil prices rose 0.93 per cent to Rs 1,640.10 per kg in futures trade today as speculators raised bets on the back of strong demand in domestic spot market.
At the Multi Commodity Exchange, mentha oil for delivery in January shot up by Rs 15.10, or 0.93 per cent, to Rs 1,640.10 per kg in a business turnover of 173 lots.
In a similar fashion, the oil for delivery in February contracts was trading 14.30, or 0.87 per cent, higher at Rs 1,660.90 per kg in 13 lots.
Marketmen said widening of positions by participants following rise demand from consuming industries in the physical market against tight stocks position on restricted supplies from Chandausi kept prices higher.