 "Mentha oil edges up on spot demand")
Mentha oil prices edged up by 0.29% to Rs 877.50 per kg in futures market today as speculators enlarged their positions, tracking a firm trend at spot market on pick up in demand.
Tight stocks availability in the physical market due to restricted arrivals from Chandausi in Uttar Pradesh also supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in November edged up by Rs 2.50, or 0.29%, to Rs 877.50 per kg in business turnover of 229 lots.
Market analysts said speculators enlarged positions on the back of a firm trend at spot market following increased demand from consuming industries that helped mentha oil prices to trade higher at futures trade.
Tight stocks availability in the physical market due to restricted arrivals from Chandausi in Uttar Pradesh also supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in November edged up by Rs 2.50, or 0.29%, to Rs 877.50 per kg in business turnover of 229 lots.
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Similarly, the oil for delivery in December moved up by Rs 2.20, or 0.25%, to Rs 890 per kg in 87 lots.
Market analysts said speculators enlarged positions on the back of a firm trend at spot market following increased demand from consuming industries that helped mentha oil prices to trade higher at futures trade.