Mentha oil up 0.4% on spot demand

Oil for delivery in September traded higher by 0.38%

Supported by rising demand in spot markets, mentha oil prices rose by 0.47% to Rs 875 per kg in futures market today as speculators created fresh positions.

 

Further, restricted arrivals from producing belts also supported the upside.

 

At the Multi Commodity Exchange, mentha oil for delivery in October rose by Rs 4.10, or 0.47% to Rs 875 per kg in business turnover of 152 lots.

 

Similarly, the oil for delivery in September traded higher by Rs 3.30, or 0.38% to Rs 860.70 per kg in 457 lots.

 

Market analysts said fresh positions created by speculators triggered by a pick up in demand from consuming industries in the spot market and restricted supplies from Chandausi in Uttar Pradesh, mainly led to rise in mentha oil prices at futures trade.