Mentha oil rises by 1.6% on rising demand

Mentha oil prices rose by 1.58% to Rs 881.90 per kg in futures trade today as traders created fresh positions, driven by pick up in demand from consuming industries.

At the Multi Commodity Exchange, mentha oil for delivery in May rose by Rs 13.80, or 1.58%, to Rs 881.90 per kg, clocking a business volume of 122 lots.

The oil for April contract traded higher by Rs 13.40, or 1.56%, to Rs 871.90 per kg, with a trading volume of 1,018 lots.

Analysts said the rise in mentha oil prices at futures trade was attributed to fresh positions built-up by speculators driven by firm demand from consuming industries in the physical markets against restricted supplies from Chandausi in Uttar Pradesh.