Spot demand lifts mentha oil by 0.11%

Mentha oil prices rose by 0.11 per cent to Rs 883.50 per kg in futures trade today as participants indulged in building up fresh position after demand picked up from consuming industries at the spot market.
In addition, tight stocks position on fall in arrivals from major producing belts of Chandausi in Uttar Pradesh support the upside in mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in August edged higher by Re 1 or 0.11 per cent to Rs 883.50 per kg in business turnover of 133 lots.
Likewise, the oil for delivery in September contracts traded higher by 40 paise or 0.04 per cent to Rs 894.70 per kg in 111 lots.

Analysts said fresh positions created by traders due to uptick in demand from consuming industries in the spot markets against restricted supplies from Chandausi led to the rise in mentha oil prices at futures trade.