Mentha oil futures rose during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for mentha oil 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 September 2016 contract is trading at Rs 906 per kg, up by 0.37 per cent after opening at Rs 905.10, against the previous closing price of Rs 902.70. It touched the intra-day high of Rs 909.4

Menthaoil on MCX settled up 0.31% at 903.4 amid surge in physical demand from major consuming industries in the domestic spot market. Further, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also added support to mentha oil prices’ uptrend.

                                   Trading Ideas  

1. Menthaoil trading range for the day is 894-911.8.            

2. Mentha oil spot at Sambhal closed at 1034.80 per 1kg. Spot prices is up by Rs.0.20/-.     

3. Mentha oil gained amid surge in physical demand from major consuming industries in the domestic spot market.  

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