Mentha oil up by 0.7% as demand picks up

Speculators enlarged their positions on the back of pick up in industtrial demand against tight supplies

Mentha oil prices gained 0.74% to Rs 886.70 per kg in futures trade today as speculators enlarged their positions, driven by pick up in industrial demand in the spot market against tight supplies.

     

At the Multi Commodity Exchange, mentha oil for delivery in August month rose by Rs 6,50, or 0.74% to Rs 886.70 per kg in business turnover of 447 lots.

     

Likewise, the oil for delivery in September contract traded higher by Rs 5.50, or 0.61% to Rs 905 per kg in 278 lots.

 

Market anlysts said speculators enlarged their positions on the back of pick up in industtrial demand in the spot against tight supplies from Chandausi in Uttar Pradesh mainly led to rise in mentha oil prices.