Mentha oil futures jump 1.97% as demand picks up

Mentha oil futures jump 1.97% as demand picks up

11/05/2017 17:13

Mentha oil futures jumped nearly 2 per cent during evening trade in the domestic market on Thursday as investors and speculators extended their positions 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 a rise in physical 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 May 2017 contract is trading at Rs 930 per kg, up by 1.97 per cent, after opening at Rs 913.50, against the previous closing price of Rs 912. It touched the intra-day high of Rs 934 (at 17:15 hours).

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