 "Mentha oil rises by 0.7% as demand picks up")
Mentha oil prices were up by 0.76% to Rs 740.60 per kg in futures trade today as speculators indulged in creating fresh positions, driven by pick-up in demand in the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in February month rose by Rs 5.60, or 0.76%, to Rs 740.60 per kg in business turnover of 207 lots.
In a similar fashion, the oil for delivery in January contracts edged up by Rs 5.10, or 0.70%, to Rs 730 per kg in 388 lots.
Analysts said fresh positions built up by speculators following pick up in demand from consuming industries in the spot market amid restricted 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 February month rose by Rs 5.60, or 0.76%, to Rs 740.60 per kg in business turnover of 207 lots.
In a similar fashion, the oil for delivery in January contracts edged up by Rs 5.10, or 0.70%, to Rs 730 per kg in 388 lots.
Analysts said fresh positions built up by speculators following pick up in demand from consuming industries in the spot market amid restricted arrivals from Chandausi in Uttar Pradesh mainly led to the rise in mentha oil prices at futures trade.