Upbeat physical demand buoys Mentha Oil
23/08/2016 12:23
Mentha oil futures climbed during noon trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for mentha oil from the major consuming industries in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major mentha oil producing belts in the country also exerted upward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for August 2016 contract were trading at Rs 887.5 per kg, up by 0.57 per cent after opening at Rs 880.50, against the previous closing price of Rs 882.50. It touched the intra-day high of Rs 889.2 (at 12:20 PM).
23/08/2016 12:23
Further, restricted supplies amid lower physical arrivals from the major mentha oil producing belts in the country also exerted upward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for August 2016 contract were trading at Rs 887.5 per kg, up by 0.57 per cent after opening at Rs 880.50, against the previous closing price of Rs 882.50. It touched the intra-day high of Rs 889.2 (at 12:20 PM).
