Mentha oil rises by 2.3% on spot demand
Traders built up positions triggered by rising demand from consuming industries in the spot market
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Mentha oil moved up by 2.31% to Rs 739 per kg in futures market today as traders built up positions triggered by rising demand from consuming industries in the spot market.
Further, tight stock position following restricted arrivals from producing regions supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in January was up Rs 16.70, or 2.31%, to Rs 739 per kg in business turnover of 418 lots.
Similarly, oil for delivery in December traded higher by Rs 15.60, or 2.19%, to Rs 727 per kg in 970 lots.
Analysts said speculators created fresh positions on the back of a rise in demand from consuming industries in the spot market. Restricted supplies from Chandausi in Uttar Pradesh also helped mentha oil prices to rise at futures trade.
Further, tight stock position following restricted arrivals from producing regions supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in January was up Rs 16.70, or 2.31%, to Rs 739 per kg in business turnover of 418 lots.
Similarly, oil for delivery in December traded higher by Rs 15.60, or 2.19%, to Rs 727 per kg in 970 lots.
Analysts said speculators created fresh positions on the back of a rise in demand from consuming industries in the spot market. Restricted supplies from Chandausi in Uttar Pradesh also helped mentha oil prices to rise at futures trade.
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First Published: Dec 15 2014 | 11:35 AM IST