 "Mentha oil gains by 0.4% as demand picks up")
Mentha oil prices rose 0.38% to Rs 715.50 per kg in futures trading today as speculators indulged in creating fresh positions, supported by pick up in demand from consuming industries in the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in January next year moved up by Rs 2.70, or 0.38% to Rs 715.50 per kg in business turnover of 21 lots.
Similarly, the oil for delivery in December contract gained Rs 2.30, or 0.33% to Rs 704.30 per kg in 103 lots.
Market analysts said speculators built up fresh positions after pick up in demand from consuming industries in the spot market against limited arrivals from Chandausi in Uttar Pradesh mainly led to the rise in mentha oil prices at futures trade.
At the Multi Commodity Exchange, mentha oil for delivery in January next year moved up by Rs 2.70, or 0.38% to Rs 715.50 per kg in business turnover of 21 lots.
Similarly, the oil for delivery in December contract gained Rs 2.30, or 0.33% to Rs 704.30 per kg in 103 lots.
Market analysts said speculators built up fresh positions after pick up in demand from consuming industries in the spot market against limited arrivals from Chandausi in Uttar Pradesh mainly led to the rise in mentha oil prices at futures trade.