Mentha oil futures gain 1.74% on spot demand

Mentha oil prices climbed 1.74 percent to Rs 1,751.70 per kg in futures market today as participants increased their bets amid a pick-up in demand from both domestic and overseas front.

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 contract was higher by Rs 30, or 1.74 percent, at Rs 1,751.70 per kg with a business volume of 175 lots.

The oil for this month's contract was also up by Rs 28.50, or 1.69 percent, to Rs 1,707.30 per kg with a trading volume of 106 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.)