 "Mentha oil rises by 0.9% as demand picks up")
Amid pick up in domestic demand and restricted supplies from producing regions, mentha oil prices were up by 0.94% to Rs 915.40 per kg in futures trading today as speculators enlarged positions.
Furthermore, tight stocks position in the physical market on limited arrivals from producing region fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in November month was trading higher by Rs 8.50, or 0.94% to Rs 915.40 per kg in business turnover of 165 lots.
Analysts said apart from a firm trend at spot market on pick up in demand from consuming industries, restricted supplies from Chandausi in Uttar Pradesh, mainly led to rise in mentha oil prices at futures trade.
Furthermore, tight stocks position in the physical market on limited arrivals from producing region fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in November month was trading higher by Rs 8.50, or 0.94% to Rs 915.40 per kg in business turnover of 165 lots.
Also Read
Likewise, the oil for delivery in October contracts gained Rs 8, or 0.89% to Rs 903.20 per kg in 488 lots.
Analysts said apart from a firm trend at spot market on pick up in demand from consuming industries, restricted supplies from Chandausi in Uttar Pradesh, mainly led to rise in mentha oil prices at futures trade.