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Tight supply lifts mentha oil by 0.71%

Speculators build fresh positions as pick-up in demand supports uptrend

Tight supply lifts mentha oil by 0.71%

Press Trust of India New Delhi
Mentha oil prices were up 0.71 per cent to Rs 895.50 per kg in futures market today as speculators built up fresh positions, triggered by tight supplies from producing regions amid pick-up in demand from consuming industries.

At the Multi Commodity Exchange, mentha oil for delivery in November moved up Rs 6.30, or 0.71 per cent, to Rs 895.50 per kg in a business turnover of 363 lots.

The October contract traded higher by Rs 6, or 0.68 per cent, to Rs 883.60 per kg in 589 lots.

Analysts said fresh positions built up by traders, driven by tight supplies from producing belts in the physical market, against pick-up in demand from consuming industries mainly led to rise in mentha oil prices in futures trade.

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First Published: Oct 21 2015 | 11:42 AM IST

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