 "Uptick in demand lifts mentha oil 0.6% in futures trade")
Mentha oil prices rose 0.64% to Rs 965.90 per kg in futures trade today as traders created fresh positions, supported by rise in demand from consuming industries in the spot markets.
Besides, limited arrivals from Chandausi in Uttar Pradesh influenced prices uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in December rose Rs 6.20, or 0.64%, to Rs 965.90 per kg, clocking a business volume of 154 lots.
Analysts said fresh positions built up by speculators on the back of a rise in demand from consuming industries in the spot markets against restricted supplies from Chandausi in Uttar Pradesh led to rise in mentha oil prices at futures trade.
Besides, limited arrivals from Chandausi in Uttar Pradesh influenced prices uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in December rose Rs 6.20, or 0.64%, to Rs 965.90 per kg, clocking a business volume of 154 lots.
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The oil for November delivery traded higher by Rs 5.40, or 0.56%, to Rs 953.70 per kg, with a trading volume of 622 lots.
Analysts said fresh positions built up by speculators on the back of a rise in demand from consuming industries in the spot markets against restricted supplies from Chandausi in Uttar Pradesh led to rise in mentha oil prices at futures trade.