Mentha oil prices rise 1.61 pc on pick-up in demand

Mentha oil prices were trading higher by 1.61 per cent to Rs 1,603.50 per kg in futures market today as speculators engaged in building up positions, amid pick-up in demand in domestic industries.
Besides, lower stock positions due to restricted arrivals from the major producing belts of Chandausi, gave support to mentha prices.
In futures trading, at the Multi Commodity Exchange, mentha oil for delivery in the current month rose by Rs 25.40, or 1.61 per cent, to Rs 1,603.50 per kg, clocking a business volume of 448 lots.
The oil for February delivery rose by Rs 24, or 1.50 per cent, at Rs 1,628.70 per kg, with a trading volume of 55 lots.

Marketmen said raising of bets by speculators, driven by rising demand from consuming industries at the spot market against restricted supplies from Chandausi, led to rise in mentha oil prices in futures trade.