Mentha oil futures gain 0.59% as demand picks up

Mentha oil prices rose 0.59 per cent to Rs 1,296.40 per kg in futures trading.

Written by Agencies | New Delhi | Published: September 18, 2012 12:35 pm

Mentha oil prices rose 0.59 per cent to Rs 1,296.40 per kg in futures trading today as speculators enlarged their positions,tracking a firm spot market trend on pick up in industrial demand.

Lower arrivals from Chandousi in Uttar Pradesh further supported the uptrend in mentha oil.

At the Multi Commodity Exchange,mentha oil for delivery in September gained Rs 9.60,or 0.59 per cent,to Rs 1,296.40 per kg,with a business turnover of 617 lots.

Likewise,the oil for delivery in October moved up by Rs 6.90,or 0.53 per cent,to Rs 1,314 per kg,with a business turnover of 169 lots.

Marketmen said besides pick up in industrial demand,less arrivals from producing belts mainly pushed mentha oil prices at futures market.

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