Mentha oil futures gain 0.83 pc on spot demand

Mentha oil prices rose by 0.83 percent to Rs 1,777.60 per kg in futures trade today as participants increased their bets following rising in demand from consuming industries in the spot markets.

Moreover, 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 September was trading higher by Rs 14.70, or 0.83 percent, to Rs 1,777.60 per kg with a business volume of 330 lots.

The oil for October climbed by Rs 14.20, or 0.79 percent, to Rs 1,798.70 per kg with a trading volume of 44 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.)