Mentha oil futures rise 0.23% as demand picks up

Mentha oil futures rise 0.23% as demand picks up

04/11/2016 10:46

Mentha oil futures were trading higher during the morning trade in the domestic market on Friday as participants started building up fresh positions in the agri-commodity amid uptick in physical demand for mentha oil from major consuming industries in the domestic spot market.

Further, extending of positions by traders in the spot market was led by rise in demand for mentha oil from consuming industries at the domestic spot market against insufficient stocks position on restricted supplies from producing regions, supported mentha oil prices at futures trade.

At the MCX, mentha oil futures for November 2016 contract were trading at Rs 933.20 per kg, up by 0.23 per cent after opening at Rs 932, against the previous closing price of Rs 931.10. It touched the intra-day high of Rs 935.40 (at 10:46 hours).

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