Spot demand lifts mentha oil futures by 0.41%

Mentha oil prices were up 0.41 per cent to Rs 884.30 per kg in futures trading today after speculators created fresh positions amid improved demand from consuming industries in the spot market.
Besides, tight stocks position on restricted supplies from producing regions supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in January edged higher by Rs 3.60, or 0.41 per cent, to Rs 884.30 per kg, in a business turnover of 136 lots.
Similarly, the oil for delivery in far-month February gained Rs 3.70, or 0.41 per cent, to Rs 896 per kg in 12 lots.

Analysts said positions built up by participants amid pick up in demand from consuming industries in the spot market against restricted supplies from Chandausi in Uttar Pradesh, led to the rise in mentha oil prices at futures trade.