Mentha oil futures climb 2.61% on increased demand

Mentha oil prices flared up by 2.61 per cent to Rs 1,195.60 per kg in futures trade today as speculators built up fresh positions amid pick up in demand from consuming industries in the spot market.

Besides, tight stock position on fall in arrivals from major producing belts of Chandausi in Uttar Pradesh supported the upmove.

At the Multi Commodity Exchange, mentha oil for delivery in August shot up by Rs 30.40, or 2.61 per cent to Rs 1,195.60 per kg in business turnover of 557 lots.

In a similar fashion, the oil for delivery in September contracts traded higher by Rs 30.20, or 2.57 per cent to Rs 1,207.10 per kg in 116 lots.

Analysts said fresh positions created by participants on the back of pick up in demand from consuming industries in the physical market against restricted supplies from Chandausi, mainly pushed up mentha oil prices at futures trade.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)