Mentha oil prices up 1.03% on surging demand

Mentha oil prices were up 1.03 per cent to Rs 1,156 per kg in futures market today as speculators enlarged their positions due to pick up in demand from consuming industries in the domestic spot market.
Furthermore, tight stock position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also supported mentha oil prices uptrend.
At the Multi Commodity Exchange, mentha oil for delivery this month rose by Rs 11.80, or 1.03 per cent, to Rs 1,156 per kg, clocking a business volume of 865 lots.
The oil for September delivery traded higher by Rs 5.30, or 0.46 per cent, to Rs 1,160.90 per kg, with a trading volume of 122 lots.

Analysts said fresh positions built up 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.