 "Mentha oil up 0.1% on rising demand, tight supply")
Mentha oil remained higher for the second straight day and prices traded higher by 0.12% to Rs 845.60 per kg in futures trading today as speculators enlarged their positions, tracking a firm trend at spot market on rising demand from consuming industries.
Tight stocks position in the physical market due to less arrivals from Chandausi in Uttar Pradesh further fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in January traded higher by Re 1, or 0.12%, to Rs 845.60 per kg in business turnover of 29 lots.
Analysts said speculators enlarged their positions, tracking a firm trend at spot market on rising demand from consuming industries against restricted restricted arrivals from Chandausi in Uttar Pradesh mainly kept mentha oil remain higher for the second day at futures trade.
Tight stocks position in the physical market due to less arrivals from Chandausi in Uttar Pradesh further fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in January traded higher by Re 1, or 0.12%, to Rs 845.60 per kg in business turnover of 29 lots.
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Similarly, the oil for delivery in December edged up by 80 paise, or 0.10%, to Rs 833.90 per kg in 43 lots.
Analysts said speculators enlarged their positions, tracking a firm trend at spot market on rising demand from consuming industries against restricted restricted arrivals from Chandausi in Uttar Pradesh mainly kept mentha oil remain higher for the second day at futures trade.