Spot demand lifts mentha oil futures by 0.71%

Mentha oil prices were higher by 0.71 per cent to Rs 875.80 per kg in futures trade on Thursday as participants built up fresh positions after pick-up in demand from consuming industries in the spot market.

Besides, tight stocks position in the physical market due to restricted arrivals from producing belts also supported the upside.

At the Multi Commodity Exchange, mentha oil for delivery in October edged up by Rs 6.20, or 0.71 per cent, to Rs 875.80 per kg in business turnover of 266 lots.

Similarly, the oil for delivery in November contracts traded higher by Rs 5.80, or 0.66 per cent, to Rs 883.10 per kg in 124 lots.

 

Analysts said fresh positions created by traders due to pick-up in demand from consuming industries in the spot market against restricted supplies from Chandausi led to raise in mentha oil prices in futures trade.