Mentha oil prices rise 1.79 pc on rising demand

Mentha oil prices were trading higher by 1.79 per cent to Rs 1,824.70 per kg in futures trade today as speculators engaged in building up positions, driven by pick-up in spot demand.
Besides, tight stock positions on restricted arrivals from producing belts and lower output estimates, gave support to mentha prices.
At the Multi Commodity Exchange, mentha oil for delivery in December rose Rs 32, or 1.79 per cent, to Rs 1,824.70 per kg, clocking a business volume of 183 lots.
The oil for January delivery rose by Rs 31.60, or 1.74 per cent, at Rs 1,848 per kg, with a trading volume of 22 lots.

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