Mentha oil futures up on spot cues

PTI New Delhi | Updated on June 24, 2011

Mentha oil prices rose Rs 6.60 to Rs 855 per kg at the futures trade today, as traders created fresh positions, driven by pick-up in spot market demand amid low arrivals.

Increase in export and domestic demand from pharmaceutical units also supported the uptrend in prices.

At the Multi Commodity Exchange, mentha oil for delivery in June gained Rs 6.60 or 0.77 per cent to Rs 855 per kg with a business volume of 231 lots.

Similarly, July contract rose Rs 6.20 or 0.73 per cent to Rs 854.50 per kg with a trade volume of 146 lots and August contract surged by Rs 4.90 or 0.57 per cent to Rs 861.40 per kg with an open interest of 68 lots.

Market analysts said fresh positions created by speculators supported by pick-up in domestic and export demand pushed up mentha oil prices at the futures trade.

Published on June 24, 2011

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