 "Mentha oil rise 0.9% as demand picks up")
Mentha oil prices moved up by 0.87% to Rs 993.90 per kg in futures trade today as speculators indulged in creating fresh positions, tracking a firm trend at spot market on rising demand from consuming industries.
Besides, restricted arrivals from growing region supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in May was trading higher by Rs 8.60, or 0.87% to Rs 993.90 per kg in business turnover of 370 lots.
Market analysts said fresh positions built up by speculators, driven by pick up in demand from consuming industries in the spot market, mainly led to rise in mentha oil prices at futures trade.
Besides, restricted arrivals from growing region supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in May was trading higher by Rs 8.60, or 0.87% to Rs 993.90 per kg in business turnover of 370 lots.
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Similarly, the oil for delivery in April contracts traded at Rs 6.50, or 0.67%, up at Rs 976.50 per kg in 110 lots.
Market analysts said fresh positions built up by speculators, driven by pick up in demand from consuming industries in the spot market, mainly led to rise in mentha oil prices at futures trade.