Mentha oil rises 2.1% on industrial demand

Mentha oil prices were up by 2.13% to Rs 977.30 per kg in futures trade today as traders created fresh positions amidst pick up in demand from consuming industries.

At the Multi Commodity Exchange, mentha oil for delivery in April rose Rs 20.40 or 2.13% to Rs 977.30 per kg clocking a business volume of 1,103 lots.

The oil for May contract traded higher by Rs 20.60 or 2.12% to Rs 989.10 per kg with a trading volume of 370 lots.

Analysts said the rise in mentha oil prices at futures trade was largely due to fresh positions built-up by speculators supported by firm demand from consuming industries in the physical markets.