Mentha oil futures gain 2.32% on upsurge in demand

Mentha oil futures gain 2.32% on upsurge in demand

11/11/2016 16:26

Mentha oil futures were trading higher during the evening trade in the domestic market on Friday as investors and speculators widened their bets in the agri-commodity amid surge in physical demand for mentha oil from major consuming industries at the domestic spot market.

Further, building up of strong positions by participants in the domestic spot market on uptick in demand for mentha oil from consuming industries at the domestic spot market against insufficient stocks positions on restricted supplies from producing regions, supported mentha oil prices at futures trade.

At the MCX, mentha oil futures for November 2016 contract is trading at Rs 939.30 per kg, up by 2.32 per cent after opening at Rs 918, against the previous closing price of Rs 918. It touched the intra-day high of Rs 944.10 (at 16:25 hours).

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