Mentha oil up 0.89% on rising demand

Mentha oil prices rose 0.89 per cent to Rs 887 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 added support to mentha oil prices uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in August rose by Rs 7.90 or 0.89 per cent to Rs 887 per kg, clocking a business volume of 254 lots.
The oil for September delivery traded higher by Rs 7.30 or 0.81 per cent to Rs 897.60 per kg with a trading volume of 580 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.