 "Mentha oil up 0.41% as demand picks up")
Mentha oil prices went up by 0.41 per cent to Rs 704 per kg in futures trade today as speculators enlarged their positions, driven by pick up in demand from consuming industries in the spot market.
Besides, tight supplies in the physical market due to less arrivals from Chandausi in Uttar Pradesh supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in December rose by Rs 2.90, or 0.41 per cent to Rs 704 per kg in business turnover of 145 lots.
Market analysts said fresh positions built up by speculators following pick up in demand from consuming industries against tight supplies from Chandausi in Uttar Pradesh, mainly led to the rise in mentha oil prices in futures trade here.
Besides, tight supplies in the physical market due to less arrivals from Chandausi in Uttar Pradesh supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in December rose by Rs 2.90, or 0.41 per cent to Rs 704 per kg in business turnover of 145 lots.
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Similarly, the oil for delivery in November edged up by Rs 2.70, or 0.39 per cent to Rs 692.80 per kg in 523 lots.
Market analysts said fresh positions built up by speculators following pick up in demand from consuming industries against tight supplies from Chandausi in Uttar Pradesh, mainly led to the rise in mentha oil prices in futures trade here.