Mentha oil up 0.39% on pick-up in demand
Traders enlarge positions on higher offtake from consuming industries
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Mentha oil prices gained Rs 3.20 to trade at Rs 815.30 per kg in the futures market today, as speculators enlarged positions, tracking a firm trend at the spot market on pick up in demand from consuming industries.
Tight stocks availability in the physical market following restricted arrivals from Chandausi in Uttar Pradesh also supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in March rose Rs 3.20, or 0.39%, to Rs 815.30 per kg in a business turnover of 26 lots.
The February contract gained Rs 2.80, or 0.35%, to Rs 804.50 per kg in 80 lots.
Analysts said speculators enlarged their positions on a firm trend at spot market on pick up in demand from consuming industries which mainly kept mentha oil prices remain higher for the second day at futures trade.
Tight stocks availability in the physical market following restricted arrivals from Chandausi in Uttar Pradesh also supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in March rose Rs 3.20, or 0.39%, to Rs 815.30 per kg in a business turnover of 26 lots.
The February contract gained Rs 2.80, or 0.35%, to Rs 804.50 per kg in 80 lots.
Analysts said speculators enlarged their positions on a firm trend at spot market on pick up in demand from consuming industries which mainly kept mentha oil prices remain higher for the second day at futures trade.
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First Published: Feb 07 2014 | 12:40 PM IST