NEW DELHI, Apr 17: Mentha oil prices rose by Rs 38 to Rs 2,421 per kg in futures trade today as speculators created fresh positions, driven by pick-up in industrial as well as export demand in the spot market.
Tight stocks position in the physical market due to less arrivals from producing region of Chandausi in Uttar Pradesh also supported the upsurge in Mentha oil prices at futures.
At the Multi Commodity Exchange, mentha oil for delivery in May shot up by Rs 38, or 1.59 per cent, to Rs 2,421 per kg in business turnover of 74 lots.
Similarly, the oil for delivery in April contract rose by Rs 25.80, or 1.07 per cent, to Rs 2,441 per kg in business turnover of 248 lots.
Marketmen said fresh buying by speculators on the back of a firming trend at the spot market, following a pick-up in industrial and export demand, mainly led to rise in mentha oil prices at futures trading.
They said less arrivals from Chandausi in Uttar Pradesh, major producing centre, also influenced the trend. (PTI)
Follow our WhatsApp channel