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Mentha oil futures recover on fresh spot demand

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 6:21 AM IST

Mentha oil prices recovered by Rs 15 to Rs 1244 per kg in futures market today as speculators created fresh positions on pick up in demand in the spot market.

Restricted arrivals in the physical market also supported the uptrend.

At the Multi Commodity Exchange, mentha oil for January month recovered by Rs 15, or 1.45 per cent to Rs 1,244 per kg in single lot. 

Similarly, the oil for delivery in December contract moved up by Rs 12.30, or 1.01 per cent to Rs 1,231.20 per kg with a business turnover of 2 lots, while current month November contract gained 9.80, or 0.81 per cent to Rs 1218.30 per kg in just one lot.

Market analysts said fresh positions created by speculators on pick up in demand in the spot market amid limited arrivals mainly pushed up mentha oil futures prices.

Increased offtake from pharmaceutical units further fuelled the uptrend, they said.

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First Published: Nov 16 2010 | 12:58 PM IST

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