Mentha oil up by 2% on pick-up in demand

Mentha oil prices rose 1.98% to Rs 922.60 per kg in futures market today after traders created fresh positions amid pick-up in demand from consuming industries in spot market.

At the Multi Commodity Exchange, mentha oil for delivery in February was trading higher by Rs 18 or 1.98% to Rs 922.60 per kg, clocking a business volume of 808 lots.

The oil for March delivery traded higher by Rs 17, or 1.85% to Rs 932.60 per kg, with a trading volume of 42 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 rise in mentha oil prices at futures trade.