Mentha oil futures gain 0.63% on spot demand

Mentha oil prices up 0.63 percent to Rs 1,702 per kg in futures market today as participants increased their bets amid rising in demand from consuming industries at the spot market.

Besides, tight stocks position on restricted supplies from major growing regions of Chandausi in Uttar Pradesh also supported the upside in mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in September was higher by Rs 10.70, or 0.63 percent, at Rs 1,702 per kg with a business volume of 77 lots.

The oil for this month was also up by Rs 8.60, or 0.52 percent, to Rs 1,667 per kg with a trading volume of 199 lots.

Marketmen said widening of positions by traders the following pick up in demand from consuming industries in the physical market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)