Mentha oil up 0.36% on pick-up in demand

Mentha oil prices were higher by 0.36 per cent to Rs 959.70 per kg in futures market today as participants raised holdings on the back of pick-up in spot demand from consuming industries.
Besides, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also provided support to mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery this month rose Rs 3.50, or 0.36 per cent, to Rs 959.70 per kg, clocking a business volume of 372 lots.
The oil for August delivery traded higher by Rs 3, or 0.30 per cent, to Rs 971.20 per kg, with a trading volume of 172 lots.

Analysts said raising of bets 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.