 "Mentha oil up by 0.4% on rising spot demand")
Continuing its rising streak for the third-straight day, mentha oil prices advanced by 0.45% to Rs 1,002.90 per kg in futures trade today as speculators engaged in enlarging positions amid pickup in demand from consuming industries in the spot market.
Also, tight stocks position in the physical market on restricted arrivals from growing region supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in May month gained Rs 3.50 or 0.45% to Rs 100.90 per kg in business turnover of 653 lots.
Market analysts said apart from rising demand from consuming industries in the spot market, restricted supplies from producing belts mainly kept mentha oil prices higher at futures trade.
Also, tight stocks position in the physical market on restricted arrivals from growing region supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in May month gained Rs 3.50 or 0.45% to Rs 100.90 per kg in business turnover of 653 lots.
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Likewise, the oil for delivery in April contracts traded higher by Rs 4.30 or 0.44% to Rs 988.60 per kg in 695 lots.
Market analysts said apart from rising demand from consuming industries in the spot market, restricted supplies from producing belts mainly kept mentha oil prices higher at futures trade.