 "Mentha oil climbs by 0.4% as demand picks up")
Mentha oil prices edged up by 0.42% to Rs 925.10 per kg in futures trade today as participants got down to creating fresh positions, supported by pick-up in demand from consuming industries in the spot market.
Furthermore, restricted arrivals from Chandausi in Uttar Pradesh supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in June was trading higher by Rs 3.90, or 0.42%, at Rs 925.10 per kg in a business turnover of 243 lots.
Marketmen said speculators built up fresh positions, driven by demand surge from consuming industries amid restricted arrivals from Chandausi in Uttar Pradesh, which mainly led to the rise in mentha oil prices.
Furthermore, restricted arrivals from Chandausi in Uttar Pradesh supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in June was trading higher by Rs 3.90, or 0.42%, at Rs 925.10 per kg in a business turnover of 243 lots.
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Likewise, the oil for delivery in May contracts traded higher by Rs 3.30, or 0.36%, at Rs 912.90 per kg in 81 lots.
Marketmen said speculators built up fresh positions, driven by demand surge from consuming industries amid restricted arrivals from Chandausi in Uttar Pradesh, which mainly led to the rise in mentha oil prices.