Mentha oil up 1.57 pc on surging demand

Mentha oil prices were trading higher by 1.57 per cent to Rs 1,875 per kg in futures market today as speculators enlarged positions, amid pick-up in demand from consuming industries in the domestic spot market.
Besides, tight stock positions on restricted arrivals from producing belts and lower output estimates, gave support to mentha prices.
At the Multi Commodity Exchange, mentha oil for delivery in December rose Rs 29, or 1.57 per cent, to Rs 1,857 per kg, clocking a business volume of 489 lots.
The oil for January delivery also traded higher by Rs 9.40, or 0.50 per cent, at Rs 1,883.10 per kg, with a trading volume of 180 lots.

Marketmen said raising of bets by speculators, driven by rising demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.