Mentha oil up 0.9% on increased industrial demand
Tight stocks position in the physical market following less arrivals from producing region fuelled the uptrend
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Mentha oil prices gained 0.96% to Rs 921.50 per kg in futures trade today as speculators enlarged their positions, tracking a firm spot market trend on increased industrial demand.
Tight stocks position in the physical market following less arrivals from producing region further fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in August month gained Rs 8.80, or 0.96% to Rs 921.50 per kg in business turnover of 135 lots.
Similarly, the oil for delivery in September traded higher by Rs 6.30, or 0.68% to Rs 938.40 per kg in 693 lots.
Market analysts said speculators enlarged their positions, tracking a firm trend at spot market on increased industrial demand against limited arrivals from Chandausi in Uttar Pradesh mainly influenced mentha oil prices at futures market.
Tight stocks position in the physical market following less arrivals from producing region further fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in August month gained Rs 8.80, or 0.96% to Rs 921.50 per kg in business turnover of 135 lots.
Similarly, the oil for delivery in September traded higher by Rs 6.30, or 0.68% to Rs 938.40 per kg in 693 lots.
Market analysts said speculators enlarged their positions, tracking a firm trend at spot market on increased industrial demand against limited arrivals from Chandausi in Uttar Pradesh mainly influenced mentha oil prices at futures market.
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First Published: Aug 29 2013 | 1:20 PM IST