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Mentha oil futures rise 0.55% as demand picks up
Menthaoil trading range for the day is 988.2-1012.6.Mentha oil spot at
Sambhal closed at 1117.30 per 1kg. Spot prices was up by Rs.0.40-.Mentha
oil prices dropped amid muted demand in the domestic spot
market.Pressure seen on prices on the speculation the area under
cultivation can incerese this year resulting good production.Sources
mentioned that nearly 14500 MT of mint products were exported in six
months of the current financial year.
Mentha oil futures were trading higher during morning trade in the domestic market on Monday as investors and speculators build up fresh bets in the agri-commodity amid uptick in physical demand for mentha oil from major consuming industries in the domestic spot market.
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At the MCX, mentha oil futures for February 2017 contract is trading at Rs 1004 per kg, up by 0.55 %, after opening at Rs 1003, against the previous closing price of Rs 998.50.10. It touched the intra-day high of Rs 1006.
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