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Mentha oil extend gains, surge 3.96% on strong demand

Press Trust of India  |  New Delhi 

Mentha was trading higher by 3.96 per cent to Rs 1,495 per kg in futures market today after participants raised bets, taking positive cues from spot market on pick-up in demand from consuming industries.

Further, restricted supplies from the producing belts of Chandausi in Uttar Pradesh, too, supported the uptrend in mentha prices.

At the Multi Commodity Exchange, mentha for delivery in the current month was trading higher by Rs 57, or 3.96 per cent, at Rs 1,495 per kg clocking a business volume of 733 lots.

The oil for August delivery was trading higher by Rs 56.10, or 3.85 per cent, to Rs 1,512.70 per kg with a trading volume of 226 lots.

Marketmen said, raising of bets by speculators, driven by surging demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha in futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 10 2018. 12:00 IST