Mentha oil futures up 0.45% on pick-up in demand

Mentha oil prices were up 0.45 per cent to Rs 1,061.40 per kg in futures market today as participants raised their holdings on the back of pick up in demand from consuming industries at the spot market.
Besides, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also provided support to mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in February rose Rs 4.80, or 0.45 per cent, to Rs 1,061.40 per kg, clocking a business volume of 35 lots.
The oil for January traded higher by Rs 4.70, or 0.44 per cent, to Rs 1,056.70 per kg, with a trading volume of 348 lots.

Analysts said fresh positions built up by speculators, driven by rising demand from consuming industries in the spot markets against restricted supplies from Chandausi led to the rise in mentha oil prices in futures trade.