Spot demand lifts mentha oil futures by 0.60%

Mentha oil prices were up by 0.60 per cent to Rs 853.30 per kg in futures market today as speculators created fresh positions after pick up in demand from consuming industries in the spot market.
Besides, tight stocks position on restricted arrivals from major producing regions supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in June rose by Rs 5.10 or 0.60 per cent to Rs 853.30 per kg in a business turnover of 76 lots.
On similar lines, the oil for delivery in far-month July contracts traded higher by Rs 4.70 or 0.55 per cent to Rs 862 per kg in 14 lots.

Analysts said fresh positions built up by participants due to rise in demand from consuming industries in the spot markets against restricted supplies from Chandausi in Uttar Pradesh helped mentha oil prices to trade higher at futures trade.