Mentha oil up 1.18 pc on spot demand

Mentha oil prices were higher by 1.18 per cent to Rs 1,675 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 current month rose Rs 19.60, or 1.18 per cent, to Rs 1,675 per kg, clocking a business volume of 245 lots.

The oil for December delivery traded higher by Rs 18.60, or 1.11 per cent at Rs 1,986 per kg, with a trading volume of 106 lots.

Marketmen said raising of bets by speculators, driven by surging demand from consuming industries at 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.)