Mentha oil up 0.42% in futures trade on pick-up in demand

Mentha oil prices were up 0.42 per cent to Rs 985.30 per kg in futures market today as participants raised their holdings on the back of pick up in demand from consuming industries at the spot market.
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 4.10, or 0.42 per cent, to Rs 985.30 per kg, clocking a business volume of 128 lots.
The oil for January next year traded higher by Rs 2.40, or 0.24 per cent, to Rs 992.50 per kg, with a trading volume of 12 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.