Mentha oil gains 0.94 pc on rising spot demand

Mentha oil futures traded 0.94 per cent higher at Rs 857.60 per kg today as participants widened their holdings on the back of rising demand from consuming industries at the spot market.
Further, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also added support to mentha oil prices uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in June rose by Rs 8, or 0.94 per cent, to Rs 857.60 per kg, clocking a business volume of 262 lots.
The oil for July delivery traded higher by Rs 7.70, or 0.89 per cent, to Rs 866.80 per kg, with a trading volume of 97 lots.

Analysts said fresh positions built up by speculators on the back of a rise in demand from consuming industries in the spot markets against restricted supplies from Chandausi in Uttar Pradesh led to the rise in mentha oil prices at futures trade.