Mentha oil prices up on surging demand

Mentha oil prices were up 1 per cent to Rs 1,642 per kg in futures market today as speculators enlarged positions, tracking rising demand at the domestic spot markets.

At the Multi Commodity Exchange, mentha oil for delivery this month rose by Rs 16.20, or one per cent, to Rs 1,642 per kg, clocking a business volume of 300 lots.

The oil for December delivery traded higher by Rs 13.30, or 0.81 per cent, to Rs 1,652 per kg, with a trading volume of 252 lots.

Analysts said fresh positions built up by speculators, driven by rising demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.

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