Mentha oil up 0.8% on rising demand, tight supply
Tight supplies from Chandausi in Uttar Pradesh fuelled the uptrend
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Mentha oil prices rose further by 0.88% to Rs 678.90 per kg in futures trading today as speculators enlarged positions, tracking a firm trend at spot market on rising demand from consuming industries.
Besides, tight supplies from Chandausi in Uttar Pradesh further fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in September advanced by Rs 5.90, or 0.88%, to Rs 678.90 per kg in business turnover of 424 lots.
Similarly, the oil for delivery in October contract gained Rs 5.90, or 0.86%, to Rs 689.00 per kg in 170 lots.
Market analysts said besides rising demand from consuming industries in the spot market amid restricted arrivals from Chandausi in Uttar Pradesh mainly kept mentha oil prices higher at futures trade.
Besides, tight supplies from Chandausi in Uttar Pradesh further fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in September advanced by Rs 5.90, or 0.88%, to Rs 678.90 per kg in business turnover of 424 lots.
Similarly, the oil for delivery in October contract gained Rs 5.90, or 0.86%, to Rs 689.00 per kg in 170 lots.
Market analysts said besides rising demand from consuming industries in the spot market amid restricted arrivals from Chandausi in Uttar Pradesh mainly kept mentha oil prices higher at futures trade.
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First Published: Sep 19 2014 | 11:20 AM IST