NEW DELHI:
Mentha oil prices went up by 1.57 per cent to Rs 1,278 per kg in futures market today as speculators built up fresh positions amid pick-up in demand from consuming industries in the domestic spot market.
Besides, tight stock positions on restricted arrivals from producing belts, too fuelled the uptrend.
At the Multi Commodity Exchange,
mentha oil for delivery in March shot up by Rs 19.70, or 1.57 per cent, to Rs 178 per kg in business turnover of 267 lots.
Similarly, the oil for delivery in March contracts was trading higher by Rs 18.80, or 1.50 per cent, at Rs 1269.90 per kg in 28 lots.
Marketmen said fresh positions created by traders after pick up in demand from consuming industries at the spot market against restricted supplies from Chandausi led to the rise in mentha oil prices in futures trade.
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