Mentha Oil futures trade higher on rising demand

Mentha Oil futures traded up on MCX as speculators enlarged positions amid rising demand from consuming industries in the spot market against restricted arrivals from Chandausi in Uttar Pradesh. However, expectations of higher output from the major producing belts capped some gains in mentha oil prices to some extent. The contract for May delivery was trading at Rs 850.10, up by 0.62% or Rs 5.20 from its previous closing of Rs 844.90. The open interest of the contract stood at 2999 lots. The contract for June delivery was trading at Rs 861.20, up by 0.55% or Rs 4.70 from its previous closing of Rs 856.50. The open interest of the contract stood at 1418 lots on MCX.