Mentha oil futures gain on higher industrial demand
New Delhi: Mentha oil prices increased by 0.87 per cent to Rs 817.60 per kg in futures trade today as participants enlarged positions on the back of increased demand from consuming industries in the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in April was up by Rs 7.10, or 0.87 per cent, to Rs 817.60 per kg, clocking a business volume of 247 lots.
Also, the oil for March contracts traded higher by Rs 6.30, or 0.78 per cent, to Rs 806.90 per kg, with a trading volume of 484 lots.
Analysts said rising demand from consuming industries at spot markets mainly supported the increase in mentha prices at futures trade here.
Besides, thin supplies from Chandausi in Uttar Pradesh pushed up prices, they added.