Mentha oil futures prices remain higher on rising demand

Nov 27 2012, 14:28 IST
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SummaryMentha oil remained higher for the second straight day with prices rising by another Rs 24.10 to Rs 1,358 per kg in futures market today.

Mentha oil remained higher for the second straight day with prices rising by another Rs 24.10 to Rs 1,358 per kg in futures market today as speculators enlarged their positions, driven by rising demand from consuming industries in the spot market.

Sentiment improved further on lower arrivals from Chandausi in Uttar Pradesh.

At the Multi Commodity Exchange, mentha oil for delivery in November added Rs 24.10, or 1.81 per cent, to Rs 1,333.90 per kg in business turnover of 468 lots.

Similarly, the metal for delivery in the December contract traded higher by Rs 23.90, or 1.77 per cent, to Rs 1372.20 per kg in 1,008 lots.

Market analysts said, rising domestic as well as export demand in the spot market against restricted arrivals from Chandausi in Uttar Pradesh mainly kept mentha oil remainedfirm.

They said reports of lower output this season also supported the upsurge in mentha oil.

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