Mentha oil gains 1.13% on spot demand

Mentha oil prices rose 1.13 per cent to Rs 854.30 per kg in futures market 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 this month rose by Rs 9.60 or 1.13 per cent to Rs 854.30 per kg clocking a business volume of 450 lots.
The oil for August delivery traded higher by Rs 7.80 or 0.91 per cent to Rs 863 per kg with a trading volume of 103 lots.

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