Mentha oil prices up 1.08% on rising demand

Mentha oil prices were up 1.08 per cent to Rs 886.50 per kg in futures market today as participants widened their holdings on the back of rising demand from consuming industries at the spot markets.
Tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also support to mentha oil prices uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in current month rose by Rs 9.50, or 1.08 per cent, to Rs 886.50 per kg, clocking a business volume of 274 lots.
The oil for July delivery traded higher by Rs 5.60, or 0.63 per cent, to Rs 899.80 per kg, with a trading volume of 798 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.