Mentha oil futures rise on industrial demand
Agencies: New Delhi, Nov 06 2012, 14:41 IST
Mentha oil prices rose by Rs 7 to Rs 1,215.50 per kg in futures trade today, as speculators enlarged their holdings tracking a rising industrial demand in spot markets against restricted supply.
At the Multi Commodity Exchange, mentha oil for delivery in December rose by Rs 7, or 0.57 per cent, to Rs 1,215.50 per kg, clocking a business volume of 192 lots. The oil for November contract traded higher by Rs 6.50, or 0.54 per cent, to Rs 1,201.80 per kg, with a trading volume of 1,020 lots.
Analysts said fresh buying by traders following pick-up in spot demand and lower arrivals from Chandausi in Uttar Pradesh mainly pushed up mentha oil prices at futures trade.
Rising demand from pharmaceutical Industries also kept mentha oil prices higher in the futures market, they said.
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