Mentha oil rises 0.70 pc on firm spot demand

Mentha oil futures were trading higher by 0.70 per cent to Rs 1,259 per kg today after participants raised bets on increased demand from consuming industries in the spot market against restricted arrivals from producing regions.
At the Multi Commodity Exchange, mentha oil for delivery in the current month rose Rs 8.80, or 0.70 per cent, to Rs 1,259 per kg, clocking a business volume of 857 lots.
The oil for April delivery traded higher by Rs 6.90, or 0.57 per cent, to Rs 1,224.10 per kg with a trading volume of 51 lots.
Marketmen said raising of bets by speculators, driven by surging demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.