Mentha oil prices up 0.38 pc on surging demand
Mentha oil prices were trading up 0.38 per cent to Rs 1,219 per kg in futures market today after participants raised bets on rise in demand from consuming industries at the spot market against restricted arrivals from producing regions.
At the Multi Commodity Exchange, mentha oil for delivery in October rose Rs 4.60, or 0.38 per cent, to Rs 1,219 per kg, clocking a business volume of 25 lots.
The oil for current month delivery traded higher by Rs 3.20, or 0.26 per cent up at Rs 1,205.90 per kg, with a trading volume of 232 lots.
Marketmen said widening of bets by speculators, driven by rising demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.