Mentha oil futures recover by 0.5% on spot demand

Mentha oil prices recovered by 0.55% to Rs 823.50 per kg in futures trade today as traders created fresh positions after pick up in demand from consuming industries in the spot market.

Besides, tight stocks position on restricted supplies from major producing regions of Chandausi in Uttar Pradesh supported the upside.

At the Multi Commodity Exchange, mentha oil for delivery in April rose by Rs 4.50, or 0.55%, to Rs 823.50 per kg, in a business turnover of 299 lots.

Likewise, the oil for delivery in far-month May gained Rs 4, or 0.48%, to Rs 833.50 per kg in 65 lots.
 
Analysts said fresh positions built up by participants due to pick up in demand from consuming industries in the spot markets mainly led to the rise in mentha oil prices at futures trade.