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Mentha oil prices up 1.63 pc on surging demand

Press Trust of India  |  New Delhi 

Mentha prices rose 1.63 per cent to Rs 1,216.80 per kg in futures market today after participants raised their bets on uptick in demand from consuming industries at the spot market.

Tight stocks position following restricted arrivals from major producing belts of Chandausi in also supported the uptrend in mentha prices.

At the Multi Commodity Exchange, mentha for delivery in April contract rose by Rs 19.50, or 1.63 per cent, to Rs 1,216.80 per kg, clocking a business volume of 110 lots.

The oil for this month delivery traded higher by Rs 12.90, or 1.06 per cent, at Rs 1,223.40 per kg with a trading volume of 347 lots.

Marketmen said raising of bets by speculators, driven by rising 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: Thu, March 08 2018. 12:10 IST