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Mentha oil extend gains on better demand

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Press Trust of India New Delhi

Mentha oil prices continued to show an upward trend and gathered another Rs 4.70, or 0.58 per cent, to Rs 814.60 per kg in futures trade today in line with a firming trend in the spot market.

Restricted arrivals from producing belts in Uttar Pradesh also put pressure on the prices.

At the Multi Commodity Exchange counter, mentha oil for September contract added Rs 4.70, or 0.58 per cent, to Rs 814.60 per kg, with a trading volume of 568 lots.

The October delivery stock gained Rs 4.10, or 0.49 per cent, to Rs 825.50 per kg, with an open interest of 221 lots.

Similarly, the oil for delivery in November contract traded Rs four, or 0.48 per cent, higher to Rs 836 per kg, with a business volume of 76 lots.

Traders said increased demand in spot market against restricted arrivals from producing regions mainly pushed up mentha oil prices at futures market.

 

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First Published: Sep 08 2010 | 12:09 PM IST

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