NEW DELHI, July 24: Mentha oil prices rose 0.18 per cent to Rs 720.80 per kg in futures trade today as speculators enlarged positions, driven by a pick-up in demand in the spot market.
Besides, tight stocks in physical markets following restricted arrivals from producing regions supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in August moved up by Rs 1.30, or 0.18 per cent, to Rs 720.80 per kg in business turnover of 111 lots.
In a similar fashion, the oil for delivery in July contract edged up by 70 paise, or 0.10 per cent, to Rs 707.40 per kg in 125 lots.
Market analysts said apart from pick-up in demand from consuming industries in the spot market, restricted arrivals from Chandausi in Uttar Pradesh mainly led to the rise in mentha oil prices in futures trade. (PTI)
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