Mentha oil futures climb 4% as demand picks up

Mentha oil futures climb 4% as demand picks up

16/11/2016 10:42

Mentha oil futures were trading higher during the morning trade in the domestic market on Wednesday as participants build up fresh bets in the agri-commodity amid pick up in physical demand for mentha oil from major consuming industries in the domestic spot market.

Further, widening 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 is trading at Rs 1006.90 per kg, up by 4 per cent after opening at Rs 997.20, against the previous closing price of Rs 968.20. It touched the intra-day high of Rs 1,006.90 (at 10:43 hours).

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