Mentha oil up 2.85 pc on spot demand

Mentha oil prices were trading higher by 2.85 per cent to Rs 1,678 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.
In futures trading at the Multi Commodity Exchange, mentha oil for delivery in January rose Rs 46.50, or 2.85 per cent, to Rs 1,678 per kg, clocking a business volume of 322 lots.
The oil for this month delivery also traded higher by Rs 42.90, or 2.67 per cent, at Rs 1,647 per kg, with a trading volume of 355 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.