Mentha oil remained higher for the second straight day and prices advanced by 0.13% to Rs 758 per kg in futures market today as speculators enlarged positions amid a firm trend at spot market on rising demand from consuming industries.
Besides, tight stocks position in the physical market due to limited arrivals from producing belts fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in January edged up by a Re, or 0.13%, to Rs 758 per kg in a business turnover of 87 lots.
Analysts said speculators enlarged positions on the back of rising demand in the spot markets amidst less arrivals from Chandausi in Uttar Pradesh.
Besides, tight stocks position in the physical market due to limited arrivals from producing belts fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in January edged up by a Re, or 0.13%, to Rs 758 per kg in a business turnover of 87 lots.
More From This Section
Similarly, the oil for delivery in February traded higher by 90 paise, or 0.12%, to Rs 768.80 per kg in just three lots.
Analysts said speculators enlarged positions on the back of rising demand in the spot markets amidst less arrivals from Chandausi in Uttar Pradesh.