Mentha oil up 0.27% on rising demand

Mentha oil prices rose 0.27 per cent to Rs 883.10 per kg in futures market today as participants widened their holdings on the back of rising demand from consuming industries at the spot market.
Tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also extended support to the upmove in prices.
At the Multi Commodity Exchange, mentha oil for delivery in August rose by Rs 2.40 or 0.27 per cent to Rs 883.10 per kg, clocking a business volume of 68 lots.
The oil for September delivery traded higher by Rs 2.20 or 0.24 per cent to Rs 892.70 per kg with a trading volume of 296 lots.

Analysts said fresh positions built up by speculators, driven by rising demand from consuming industries in the spot markets against restricted supplies from Chandausi led to the rise in mentha oil prices in futures trade.