Mentha oil up 2.51 percent on spot demand

NEW DELHI: Mentha oil prices were trading higher by 2.51 per cent to Rs 1,429.50 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.

At the Multi Commodity Exchange, mentha oil for delivery in the current month contract was higher by Rs 35, or 2.51 per cent, to Rs 1,429.50 per kg, clocking a business volume of 137 lots.

The oil for May delivery was trading higher by Rs 17.90, or 1.47 per cent to Rs 1,238 per kg, with a trading volume of 196 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.