 "Mentha oil climbs by 4% on export demand")
Mentha oil prices spurted by 4% to hit upper limit at Rs 1,034.90 per kg today as speculators engaged in enlarging positions amidst export demand in spot market.
Besides, reports of damage to standing crop due to recent unseasonal rains in growing regions, supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in April spurted by Rs 39.80, or 4%, at Rs 1,034.90 per kg, clocking a business volume of 617 lots.
The trading sentiment remained firm as traders indulged in creating positions, triggered by export as well as domestic demand amid lower arrivals from Chandausi in Uttar Pradesh, traders said.
Besides, reports of damage to standing crop due to recent unseasonal rains in growing regions, supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in April spurted by Rs 39.80, or 4%, at Rs 1,034.90 per kg, clocking a business volume of 617 lots.
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The oil for May contract traded higher by Rs 40.20, or 3.99%, to Rs 1,047.40 per kg, with a trading volume of 191 lots.
The trading sentiment remained firm as traders indulged in creating positions, triggered by export as well as domestic demand amid lower arrivals from Chandausi in Uttar Pradesh, traders said.