Mentha oil futures rise on strong demand

Mentha oil futures exhibited a positive trend on MCX, as traders engaged in creating positions supported by strong demand at spot market from consuming industries. Sentiment improved further due to tight stocks position in the physical market due to restricted arrivals from producing belts. Moreover, weak sowing progress in local mandies along with strong export demand too supported mentha oil prices uptrend. The contract for May delivery was trading at Rs 881.00, up by 0.95% or Rs 8.30 from its previous closing of Rs 872.70. The open interest of the contract stood at 3688 lots. The contract for June delivery was trading at Rs 890.60, up by 1.07% or Rs 9.40 from its previous closing of Rs 881.20. The open interest of the contract stood at 1097 lots on MCX.