Mentha oil up 1.53% on spot demand

NEW DELHI: Mentha oil prices were trading higher by 1.53 per cent to Rs 1,974.80 per kg in futures market today after participants raised bets on rise in demand from consuming industries at the spot market against restricted arrivals from producing regions.
In futures trading at the Multi Commodity Exchange, mentha oil for delivery in January rose Rs 29.80, or 1.53 per cent, to Rs 1,974.80 per kg, clocking a business volume of 54 lots.
The oil for current month delivery traded higher by Rs 26, or 1.35 per cent to Rs 1,949.20 per kg, with a trading volume of 392 lots.
Marketmen said raising of bets by speculators, driven by surging demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.