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Uptick in demand lifts mentha oil futures by 0.74%

Press Trust of India  |  New Delhi 

Amid pick up in domestic demand and restricted supplies from producing regions, mentha prices rebounded 0.74 per cent to Rs 981.60 per kg in futures trade today as participants covered-up short positions ahead of monthly expiry.

At the Multi Commodity Exchange, mentha for delivery in December month rose by Rs 7.20, or 0.74 per cent, to Rs 981.60 per kg in business turnover of 255 lots.

Likewise, the for delivery in November contracts gained Rs 6.50, or 0.67 per cent, to Rs 974 per kg in 80 lots.

Analysts said covering-up of pending short positions by speculators ahead of tomorrow's November month expiry amid pick up in demand from consuming industries in the spot markets, helped mentha oil prices to trade higher at futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 29 2016. 11:13 IST