Mentha oil prices gained Rs 8.70 to Rs 1,099 per kg in futures trade today as speculators created fresh positions, driven by a rise in export and domestic demand from pharmaceutical Industries.
At the Multi Commodity Exchange, mentha oil for April delivery gained Rs 8.70, or 0.79%, to Rs 1,099 per kg with a trading volume of 53 lots, while May mentha oil contracts rose by Rs 7, or 0.66%, to Rs 1,053 per kg with an open interest in 47 lots.
Consignments of the oil for June delivery rose by Rs 3.20, or 0.33%, to Rs 966.50 per kg in 30 lots.
Marketmen said fresh buying by traders following a pick-up in spot demand and lower arrivals from Chandausi in Uttar Pradesh mainly pushed up mentha oil prices in futures trade.
In addition, increasing export and domestic demand from pharmaceutical industries kept mentha oil prices higher in the futures market.
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