Mentha oil rises by 0.4% on spot demand
Speculators built-up positions, supported by rising demand from consuming industries at the spot market
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Mentha oil prices were up by 0.42% to Rs 1,078 per kg in futures trade today as speculators built-up positions, supported by rising demand from consuming industries at the spot market.
In addition, restricted supplies from producing belts supported the upside.
At Multi Commodity Exchange, mentha oil for delivery in June moved up by Rs 4.50, or 0.42% to Rs 1,078.00 per kg in a business turnover of 880 lots.
Similarly, the oil for delivery in July contracts edged higher by Rs 4.50, or 0.41% to Rs 1,095.90 per kg in 326 lots.
Market analysts said besides a pickup in demand from consuming industries at the spot market, restricted arrivals from Chandausi in Uttar Pradesh, led to the rise in mentha oil prices at futures trade.
In addition, restricted supplies from producing belts supported the upside.
At Multi Commodity Exchange, mentha oil for delivery in June moved up by Rs 4.50, or 0.42% to Rs 1,078.00 per kg in a business turnover of 880 lots.
Similarly, the oil for delivery in July contracts edged higher by Rs 4.50, or 0.41% to Rs 1,095.90 per kg in 326 lots.
Market analysts said besides a pickup in demand from consuming industries at the spot market, restricted arrivals from Chandausi in Uttar Pradesh, led to the rise in mentha oil prices at futures trade.
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First Published: Jun 18 2015 | 11:42 AM IST