Mentha oil futures rise 0.74% as demand picks up
Mentha oil prices moved up by 0.74 per cent to Rs 1,171.40 per kg in futures trade today as speculators created fresh positions amid pick-up in demand from consuming industries against restricted supplies from producing regions.
At the Multi Commodity Exchange, mentha oil for delivery in August rose by Rs 8.60, or 0.74 per cent to Rs 1,171.40 per kg in business turnover of 350 lots.
Similarly, the oil for delivery in September contracts traded higher by Rs 8.20, or 0.70 per cent to Rs 1,184.20 per kg in 137 lots.
Market analysts attributed the rise in mentha oil in futures trade to pick up in demand from consuming industries against tight stocks position on fall in arrivals from Chandousi in Uttar Pradesh.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.