 "Mentha oil up by 0.5% on strong demand")
Mentha oil prices rose further by 0.55% to Rs 799.90 per kg in futures market today as participants enlarged their positions, tracking a firm trend at spot market on strong demand from consuming industries.
In addition, tight stocks position on restricted supplies from major producing regions of Chandausi in Uttar Pradesh also supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in April moved up by Rs 4.40, or 0.55% to Rs 799.90 per kg in a business turnover of 105 lots.
Analysts said besides strong demand demand from consuming industries in the spot markets, restricted supplies from producing regions mainly led to the rise in mentha oil prices at futures trade.
In addition, tight stocks position on restricted supplies from major producing regions of Chandausi in Uttar Pradesh also supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in April moved up by Rs 4.40, or 0.55% to Rs 799.90 per kg in a business turnover of 105 lots.
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Likewise, the oil for delivery in far-month May traded higher by Rs 3.70, or 0.46% to Rs 809.50 per kg in 19 lots.
Analysts said besides strong demand demand from consuming industries in the spot markets, restricted supplies from producing regions mainly led to the rise in mentha oil prices at futures trade.