Mentha oil up 1.27% on spot demand

NEW DELHI, June 21: Mentha oil prices edged higher by 1.27 per cent to Rs 1,173 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 this month contracts was higher by Rs 14.80, or 1.27 per cent, to Rs 1,173 per kg, clocking a business volume of 219 lots.

The oil for July delivery was trading higher by Rs 13.50, or 1.14 per cent, to Rs 1,188 per kg with a trading volume of 114 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. (PTI)

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