Mentha oil futures extend gains, up 0.25% on rising demand

NEW DELHI, Oct 29:  Extending yesterday’s gain, mentha oil prices advanced by 0.25 per cent to Rs 673.10 per kg in futures trade today as speculators indulged in enlarging positions amid rising demand in the spot market.
Besides, tight supplies from producing belts in physical markets on restricted arrivals from producing belts further fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in October gained Rs 1.70, or 0.25 per cent to Rs 673.10 per kg in business turnover of 246 lots.
Likewise, the oil for delivery in November edged up by 80 paise, or 0.12 per cent to Rs 683.90 per kg in 330 lots.
Market analysts said besides rising demand from consuming industries in the spot market, restricted arrivals from Chandausi in Uttar Pradesh, mainly led to the rise in mentha oil prices in futures trade. (PTI)


Please enter your comment!
Please enter your name here