Mentha oil up 0.9% after demand picks up

Oil for delivery in July contracts traded higher by 0.84%

Mentha oil prices were up by 0.99 per cent to Rs 1,067.60 per kg in futures trade today as speculators created fresh bets, driven by pick-up in demand from consuming industries.

Besides, restricted arrivals from Chandausi in Uttar Pradesh supported the upside.

At Multi Commodity Exchange, mentha oil for delivery in June month rose Rs 10.50, or 0.99 per cent, to Rs 1,067.60 per kg in a business turnover of 85 lots.

Similarly, the oil for delivery in July contracts traded higher by Rs 9, or 0.84 per cent, at Rs 1,083.10 per kg in 539 lots.

Marketmen said fresh positions built up by speculators due to pick-up in demand from consuming industries in the spot market amid restricted arrivals mainly influenced mentha oil prices.