 "Mentha oil up by 0.1% on rising demand")
Mentha oil remained higher for the second day with prices advancing by 0.08% to Rs 827.10 per kg in futures trading today as speculators enlarged positions on the back of rising demand from consuming industries.
Besides, tight stocks position in the physical market on lower arrivals from producing belts fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in April traded higher by 70 paise, or 0.08%, to Rs 827.10 per kg in a business turnover of 74 lots.
Analysts said besides rising demand from consuming industries in the spot market, restricted supplies from Chandausi in Uttar Pradesh mainly kept mentha oil prices higher at futures trade.
Besides, tight stocks position in the physical market on lower arrivals from producing belts fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in April traded higher by 70 paise, or 0.08%, to Rs 827.10 per kg in a business turnover of 74 lots.
More From This Section
Similarly, the oil for delivery in March contracts edged up by 20 paise, or 0.02% to Rs 816.70 per kg in 252 lots.
Analysts said besides rising demand from consuming industries in the spot market, restricted supplies from Chandausi in Uttar Pradesh mainly kept mentha oil prices higher at futures trade.