Mentha oil prices were up 0.62 per cent to Rs 922 per kg in futures market today as participants widened their holdings on the back of rising demand from consuming industries at the spot market. Tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also supported in mentha oil prices uptrend. At the Multi Commodity Exchange, mentha oil for delivery in current month rose by Rs 5.70, or 0.62 per cent, to Rs 922 per kg, clocking a business volume of 217 lots. The oil for July delivery traded higher by Rs 4.80, or 0.51 per cent, to Rs 934 per kg, with a trading volume of 26 lots. Analysts said fresh positions built up by speculators, driven by rising demand from consuming industries in the spot markets against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
Mentha oil prices up 0.62% on rising demand
Press Trust of India |