Mentha oil gains 1.64% on rising demand

Mentha oil prices rose 1.64 per cent to Rs 884 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 in May rose by Rs 14.30, or 1.64 per cent, to Rs 884 per kg, clocking a business volume of 435 lots.
The oil for June delivery traded higher by Rs 11.10, or 1.27 per cent, to Rs 882.30 per kg, with a trading volume of 175 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.