Mentha oil up 0.5% on spot demand

Mentha oil prices were up by 0.47% to Rs 921 per kg in futures market today as traders indulged in creating fresh positions after demand picked up from consuming industries 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 September rose by Rs 4.30 or 0.47% to Rs 921 per kg in business turnover of 18 lots.

Likewise, the oil for delivery in August contracts traded higher by Rs 3.90, or 0.43% to Rs 909.20 per kg in 106 lots.

Analysts said fresh positions created by participants due to uptick in demand from consuming industries in the spot market against tight stocks position on restricted supplies from Chandausi in Uttar Pradesh, mainly influenced mentha oil prices at futures trade.