Mentha oil rises on firm demand

Written by Agencies | New Delhi | Updated: Mar 30 2011, 20:04pm hrs
Mentha oil prices rose by Rs 11.40 to Rs 1,097.40 per kg in futures trade on Wednesday as speculators created fresh positions, driven by pick-up in demand at the spot markets.

At the Multi Commodity Exchange, mentha oil for delivery in April rose by Rs 11.40, or 1.04 per cent, to Rs 1,097.40 per kg, with business volume of 132 lots.

The oil for delivery in March gained Rs 10.50, or 0.83 per cent, to Rs 1,269.90 per kg, which open interest of 35 lots.

Likewise, prices for delivery in May inched up by Rs 8, or 0.84 per cent, to Rs 960 per kg, with a business turnover of 13 lots.

Market analysts said fresh buying by traders following pick-up in spot and export demand mainly pushed up mentha oil prices at futures trade here.