Mentha oil prices up 0.52 pc on surging demand

Mentha oil prices were trading up 0.52 per cent to Rs 1,204 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 belts.

At the Multi Commodity Exchange, mentha oil for delivery in current month rose Rs 6.20, or 0.52 per cent, to Rs 1,204 per kg, clocking a business volume of 458 lots.

The oil for November delivery traded higher by Rs 6, or 0.50 per cent up, at Rs 1,215.60 per kg, with a trading volume of 46 lots.

Marketmen said raising 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.

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