Mentha oil futures up 0.34 pc on spot demand

Mentha oil prices were up 0.34 per cent to Rs 1,003 per kg in futures trading today as speculators enlarged positions, tracking a firming trend at spot market on increased demand from consuming industries.
Besides, tight stock position in the physical market on restricted arrivals from producing regions further fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in October rose Rs 3.40, or 0.34 per cent to Rs 1,003 per kg in business turnover of 149 lots.
Oil for delivery in September traded higher by the same margin to Rs 990.60 per kg in 655 lots.

Market Analysts said fresh positions built up by speculators following increased demand from consuming industries in the spot market against less arrivals from Chandausi in Uttar Pradesh, led to the rise in mentha oil prices at futures trade.