Mentha oil up by 0.4% on rising demand

Mentha oil prices rose further by 0.42% to Rs 915.10 per kg in futures market today as participants engaged in enlarging their positions, driven by pick up in demand 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 far-month April gained Rs 3.80, or 0.42%, to Rs 915.10 per kg, in a business turnover of 53 lots.

Likewise, the oil for delivery in March moved up by Rs 3.30, or 0.37%, to Rs 902.70 per kg in 269 lots.

Analysts said widening of positions by traders due to pick up in demand from consuming industries in the spot market amid restricted supplies from Chandausi in Uttar Pradesh kept mentha oil prices higher at futures trade.