Mentha oil up 0.1% on tight supply

Market analysts said fresh positions built up by speculators driven by firm demand from consuming industries in the spot market, led to rise in mentha oil prices

Mentha oil prices moved up by 0.18% to Rs 870.80 per kg in futures trade today as speculators created fresh positions amid rising demand from consuming industries in the spot market.

Besides, tight supplies in the physical market following less arrivals from Chandausi in Uttar Pradesh also supported the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in October month rose by 1.60, or 0.18%, to Rs 870.80 per kg in business turnover of 206 lots.

Likewise, the oil for delivery in November edged up by Rs 1.30, or 0.15%, to Rs 884.50 per kg in 6 lots.
 

Market analysts said fresh positions built up by speculators driven by firm demand from consuming industries in the spot market, mainly led to rise in mentha oil prices at futures trade.