Mentha oil rises by 0.8% on firm demand

Speculators enlarged their positions, driven by a rising demand influenced prices

Mentha oil prices were up Rs 6.50 to Rs 859 per kg in futures trade today as speculators enlarged positions, driven by a rising demand in the spot market against restricted arrivals from producing belts.

     

At the Multi Commodity Exchange, mentha oil for delivery in August month rose by Rs 6.50, or 0.76%, to Rs 859 per kg in business turnover of 244 lots.

     

Similarly, the oil for delivery in September moved up by Rs 6.50, or 0.75%, to Rs 874.80 per kg in 214 lots.

     

In a similar fashion, the spice for delivery in October traded higher by Rs 2.70, or 0.34%, to Rs 791 per kg in 30 lots.

 

     

Market analysts said speculators enlarged their positions, driven by a rising demand in the spot market against restricted arrivals from Chandausi in Uttar Pradesh mainly influenced mentha oil prices in futures trade.