Mentha oil rise 0.3% as demand picks up

Tight stocks availability in the physical market due to less arrivals also supported the uptrend

Mentha oil prices rose by 0.3% to Rs 868 per kg in futures trade today as speculators created fresh positions, driven by pick up in demand from consuming industries in the spot market.

 

Tight stocks availability in the physical market due to less arrivals from Chandausi in Uttar Pradesh also supported the uptrend.

 

At the Multi Commodity Exchange, mentha oil for delivery in October moved up by Rs 2.60, or 0.30%, to Rs 868 per kg in business turnover of 118 lots.

 

Similarly, the oil for delivery in November traded higher by Rs 2.10, or 0.24%, to Rs 880.60 per kg in 30 lots.

 

Market analysts said fresh positions created by speculators after pick up in demand from consuming industries in the spot market amid lower arrivals from Chandausi in Uttar Pradesh mainly led to rise in mentha oil prices at futures trade.