Mentha oil prices gain 0.10% on spot demand

Mentha oil prices were up 0.10 per cent to Rs 1,135.60 per kg in futures market today as speculators built up fresh positions, taking positive cues from spot market on pick up in demand from consuming industries.
Besides, tight stock position on fall in arrivals from major producing belts of Chandausi in Uttar Pradesh fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in August rose by Rs 1.10, or 0.10 per cent, to Rs 1,135.60 per kg, in a business turnover of 143 lots.
Likewise, the oil for delivery in September edged up by 30 paise, or 0.03 per cent, to Rs 1,147 per kg in 34 lots.

Analysts said fresh positions created by participants, driven by uptick in demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.