 "Mentha oil rises by 1.3% on spot demand")
Mentha oil prices rose 1.33% to Rs 1,075.60 per kg in futures trade today as speculators indulged in creating fresh positions taking positive cues from spot market on pick up in demand from consuming industries.
Besides, reports of lower production estimates this season supported the upside.
At Multi Commodity Exchange, mentha oil for delivery in July month rose by Rs 14.10, or 1.33% to Rs 1,075.60 per kg in business turnover of 585 lots.
Marketmen said speculators built-up positions driven by pick up in demand from consuming industries in the physical market against restricted supplies from producing belts, which mainly led to rise in mentha oil prices at futures trade.
Besides, reports of lower production estimates this season supported the upside.
At Multi Commodity Exchange, mentha oil for delivery in July month rose by Rs 14.10, or 1.33% to Rs 1,075.60 per kg in business turnover of 585 lots.
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Similarly, the oil for delivery in August contracts moved up by Rs 13.50, or 1.25% to Rs 1,090.90 per kg in 261 lots.
Marketmen said speculators built-up positions driven by pick up in demand from consuming industries in the physical market against restricted supplies from producing belts, which mainly led to rise in mentha oil prices at futures trade.