Mentha oil futures extended gains for the third straight day by adding Rs 14.40 to Rs 1,138.40 a kg on Thursday as speculators enlarged their positions, driven by increased demand in the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in February rose by Rs 14.40, or 1.28 per cent, to Rs 1,138.40 a kg, with a trade volume of just one lot.
Similarly, the oil for delivery in March gained Rs 14, or 1.23 per cent, to Rs 1,148.80 a kg, with a trade volume of just one lot.
Market analysts attributed the rise in mentha oil futures prices to rising demand from pharmaceutical units at the spot market, against less arrivals from producing regions.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.