Mentha oil futures surge as demand picks up

Mentha oil futures surge as demand picks up

27/01/2017 11:06

Mentha oil futures were trading higher during morning trade in the domestic market on Friday as investors and speculators build up fresh bets in the agri-commodity amid increase 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 physical demand for mentha oil from consuming industries at the domestic spot market against insufficient stocks position on higher supplies from producing regions, supported mentha oil prices at futures trade.

At the MCX, mentha oil futures for January 2017 contract is trading at Rs 1009.30 per kg, up by 0.76 per cent, after opening at Rs 1003.70, against the previous closing price of Rs 1001.70. It touched the intra-day high of Rs 1010.90 (at 11:08 hours).

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