Mentha oil up by 0.4% on spot demand

Tight stocks position following restricted arrivals from major producing belts also supported prices

Mentha oil prices rose 0.37% to Rs 874 per kg in futures market today as participants widened their holdings on the back of rising demand from consuming industries at the spot market.

Further, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also added support to mentha oil prices uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in this month rose by Rs 3.20, or 0.37%, to Rs 874 per kg, clocking a business volume of 99 lots.

The oil for June delivery traded higher by Rs 2.20, or 0.25%, to Rs 876.50 per kg with a trading volume of 129 lots.
 
Analysts said fresh positions built up by speculators on the back of a rise in demand from consuming industries in the spot markets against restricted supplies from Chandausi in Uttar Pradesh led to the rise in mentha oil prices at futures trade.