Mentha oil prices extends gain, up 1.45% on strong demand
Agencies: New Delhi, Dec 06 2012, 14:13 IST
Mentha oil rose by Rs 20.20 to Rs 1,410.50 per kg in futures trade today on traders creating positions on account of good demand from consuming industries and lower arrivals from producing areas.
Sentiment improved further due to increased domestic as well as exports demand in the midst of reports of lower output this season.
At the Multi Commodity Exchange, mentha oil for delivery in December rose by Rs 20.20, or 1.45 per cent, to Rs 1,410.50 per kg, clocking a business volume of 1,879 lots.
The oil for the January contract traded higher by Rs 19.90, or 1.41 per cent, to Rs 1,423.40 per kg, with a trading volume of 378 lots.
Analysts said pick-up in export and domestic demand and lower arrivals from Chandausi in Uttar Pradesh mainly pushed up mentha oil prices at futures trade.
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