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Mentha oil up 0.6% on rising demand

Oil for May contract traded higher by 0.5%

Press Trust of India  |  New Delhi 

Mentha oil prices rose by 0.62% to Rs 860.10 per kg in futures trade today as traders created fresh positions, driven by pick up in demand from consuming industries.

At the Multi Commodity Exchange, mentha oil for delivery in april rose by Rs 5.30, or 0.62%, to Rs 860.10 per kg, clocking a business volume of 187 lots.

The oil for May contract traded higher by Rs 4.40, or 0.50%, to Rs 870.60 per kg, with a trading volume of 33 lots.

Analysts said the rise in mentha oil prices at futures trade was attributed to fresh positions built-up by speculators driven by firm demand from consuming industries in the physical against restricted supplies from Chandausi in Uttar Pradesh.

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First Published: Thu, April 10 2014. 12:26 IST