Mentha oil up 1.9% on rising demand
Oil for April contracts went up by 1.86%
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Amid rising domestic as well as export demand, mentha oil prices rose by 1.93% to Rs 925 per kg in futures trade today as speculators enlarged positions.
Further, restricted arrivals from producing regions too supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in March moved up by Rs 17.50, or 1.93%, to Rs 925 per kg in business turnover of 612 lots.
In a similar fashion, the oil for April contracts went up by Rs 17.10, or 1.86%, to Rs 935 per kg in 446 lots.
Analysts said besides rising domestic and export demand in the spot market, restricted supplies from Chandausi in Uttar Pradesh led to rise in mentha oil prices at futures trade.
Further, restricted arrivals from producing regions too supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in March moved up by Rs 17.50, or 1.93%, to Rs 925 per kg in business turnover of 612 lots.
In a similar fashion, the oil for April contracts went up by Rs 17.10, or 1.86%, to Rs 935 per kg in 446 lots.
Analysts said besides rising domestic and export demand in the spot market, restricted supplies from Chandausi in Uttar Pradesh led to rise in mentha oil prices at futures trade.
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First Published: Mar 24 2014 | 1:14 PM IST