 "Mentha oil rises by 0.2% as demand picks up")
Mentha oil prices moved up by 0.20% to Rs 688.40 per kg in futures trade today as speculators indulged in creating fresh positions after pick up in demand from consuming industries in the spot market.
Also, tight supplies from producing belts in the physical market on restricted arrivals from producing belts, supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in November gained Rs 1.40, or 0.20% to Rs 688.40 per kg in business turnover of 93 lots.
Market analysts said besides pick up in demand from consuming industries in the spot market, less arrivals from Chandausi in Uttar Pradesh, mainly led to the rise in mentha oil prices in futures trade.
Also, tight supplies from producing belts in the physical market on restricted arrivals from producing belts, supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in November gained Rs 1.40, or 0.20% to Rs 688.40 per kg in business turnover of 93 lots.
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Similarly, the oil for delivery in October edged higher by Rs Re 1, or 0.15% to Rs 677.40 per kg in 114 lots.
Market analysts said besides pick up in demand from consuming industries in the spot market, less arrivals from Chandausi in Uttar Pradesh, mainly led to the rise in mentha oil prices in futures trade.