Mentha oil futures hit upper limit of 4% on strong demand

Mentha oil prices spurted by 4 per cent to hit upper circuit limits at Rs 1,650.30 per kg in futures market today on strong demand in spot markets.

At the Multi Commodity Exchange, mentha oil for delivery in November month shot up by Rs 63.40, or 4 per cent to Rs 1,650.30 per kg in business turnover of 819 lots.

On similar lines, the oil for delivery in December traded higher by Rs 64.20, or 4 per cent to Rs 1,669.30 per kg in 296 lots.

Analysts said building up of positions by traders, driven by surging demand from consuming industries at physical market against tight stocks position on fall in arrivals from Chandausi.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)