 "Mentha oil up 0.5% on pick-up in demand")
Mentha oil prices rose by 0.55% to Rs 754.90 per kg in futures trading today after speculators created fresh positions following pick-up in demand from consuming industries in spot markets.
Besides, tight stock positions in the physical market due to restricted supplies from Chandausi in Uttar Pradesh, supported mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in February moved up by Rs 4.10, or 0.55%, to Rs 754.90 per kg in a business turnover of 326 lots.
Analysts said fresh positions built by speculators following improved demand from consuming industries in spot markets against tight supplies from Chandausi in Uttar Pradesh led to rise in mentha oil prices at futures trade.
Besides, tight stock positions in the physical market due to restricted supplies from Chandausi in Uttar Pradesh, supported mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in February moved up by Rs 4.10, or 0.55%, to Rs 754.90 per kg in a business turnover of 326 lots.
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Likewise, the oil for delivery in March traded higher by Rs 4.20, or 0.55%, to Rs 764.80 per kg in 53 lots.
Analysts said fresh positions built by speculators following improved demand from consuming industries in spot markets against tight supplies from Chandausi in Uttar Pradesh led to rise in mentha oil prices at futures trade.