Mentha oil up 0.4% on pick up in demand

Mentha oil prices rose 0.42% to Rs 900.20 per kg in futures trade today as participants created positions, supported by pick up in demand from consuming industries in spot market.

At the Multi Commodity Exchange, mentha oil for delivery in March rose by Rs 3.80, or 0.42%, to Rs 900.20 per kg, clocking a business volume of just four lots.

The oil for delivery in February traded higher by Rs 2.10, or 0.23%, to Rs 890.80 per kg, with a trading volume of 172 lots.

Analysts said fresh positions built up by speculators on the back of a rise 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.