Mentha oil rises by 0.2% on spot demand

Rise prices was mostly attribtued to speculators enlarging positions on pick up in demand

Mentha oil prices rose by Rs 170 to Rs 878.40 per kg in futures market today as speculators enlarged their positions, tracking a firm trend at spot market on pick up in demand from consuming industries.

     

At the Multi Commodity Exchange, mentha oil for delivery in August month rose by Rs 1.70, or 0.19% to Rs 878.40 per kg in business turnover of 360 lots.

     

Simiilarly, the oil for delivery in September contract traded higher by Rs 1.30, or 0.15% to Rs 897.30 per kg in 186 lots.

 

Market anlysts said the rise in mentha oil prices at futures trade was mostly attribtued to speculators enlarging positions on pick up in demand from consuming industries in the spot market amid lower arrivals from Chandausi in Uttar Pradesh.