NEW DELHI:
Mentha oil prices were trading 0.33 per cent higher at Rs 1,544.40 per kg in futures market today after participants raised bets on rise in demand from consuming industries in the spot market.
Moreover, tight stock positions following restricted arrivals from major producing belts of
Chandausi
in
Uttar Pradesh also supported the uptrend in mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in February rose Rs 5.10, or 0.33 per cent, to Rs 1,544.40 per kg, clocking a business volume of 176 lots.
The oil for March delivery traded higher by Rs 3.60, or 0.23 per cent, at Rs 1,551 per kg, with a trading volume of 28 lots.
Marketmen said raising of bets by speculators, driven by rising demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices.
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