Mentha oil moves up on spot demand

Written by Agencies | New Delhi | Updated: Jun 28 2011, 21:17pm hrs
Mentha oil prices rose by Rs 5.20 to Rs 876 per kg in futures trade on Tuesday after traders created fresh positions, driven by pick-up in spot demand from pharmaceutical units.

At the Multi Commodity Exchange, mentha oil for delivery in July rose by Rs 5.20, or 0.60 per cent, to Rs 876 per kg, with a business turnover of 219 lots.

Similarly, the oil for delivery in June edged up by Rs 3.80, or 0.44 per cent, to Rs 866 per kg, with an open interest of 65 lots.

Market analysts said fresh buying by traders after pick-up in spot demand and lower arrivals from Chandausi in Uttar Pradesh pushed up mentha oil prices at futures trade.