Mentha oil marginally up 0.15% on pick-up in demand

Mentha oil prices were marginally higher by 0.15 per cent at Rs 1.40 per kg in futures market today as participants raised holdings on the back of pick-up in spot demand from consuming industries.

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

At the Multi Commodity Exchange, mentha oil for delivery this month rose Rs 1.40, or 0.15 per cent, to Rs 945 per kg, clocking a business volume of 35 lots.

The oil for June delivery traded higher by Rs 1.20, or 0.13 per cent, to Rs 908.90 per kg, with a trading volume of 35 lots.

Analysts said raising of bets by speculators, driven by rising demand from consuming industries in the spot markets against restricted supplies from Chandausi led to the rise in mentha oil prices in futures trade.

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