Mentha oil futures gain 2.05% on spot demand

NEW DELHI, July 31: Mentha oil prices climbed 2.05 per cent to Rs 1,536.80 per kg in futures market today as participants increased their bets amid rise in demand from consuming industries at the spot market.
Besides, tight stocks position on restricted supplies from major growing regions of Chandausi in Uttar Pradesh also supported the upside in mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in August contract was higher by Rs 30.80, or 2.05 per cent, at Rs 1,536.80 per kg with a business volume of 727 lots.
The oil for this month’s contract was also up by Rs 26.10, or 1.76 per cent, to Rs 1,510 per kg with a trading volume of 35 lots.
Marketmen said widening of positions by traders following pick up in demand from consuming industries in the physical market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade. (PTI)