Mentha oil futures trade higher on pickup in demand

Mentha oil prices increased by 0.5 per cent to Rs 887 per kg in futures trade today as speculators strengthened their holdings on the back of pickup in demand from consuming industries at the domestic spot market.
Besides, restricted supplies from major producing regions of Chandausi in Uttar Pradesh also supported the upside in Mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in March was up by Rs 4.50 or 0.50 per cent to Rs 887 per kg, clocking a business volume of 261 lots.
Also, the oil for April contracts traded higher by Rs 3.90 or 0.43 per cent to Rs 899 per kg, with a trading volume of 33 lots.

Analysts said rising demand from consuming industries at spot markets mainly supported the increase in mentha prices at futures trade here.
Besides, thin supplies from Chandausi in Uttar Pradesh pushed up prices, they added.