Lower arrivals from major producing belts of Chandausi in Uttar Pradesh are supporting prices.
Apr 03, 2019, 11.00 AM IST
Raising of bets by speculators drove mentha oil prices higher in futures trade.
NEW DELHI: Improved demand from consuming industries at the spot market lifted
mentha oil prices
in the domestic futures trade on Wednesday.
Around 10: 35 am, MCX Mentha oil was at Rs 1,585.60 per kg, up by Rs 7.70, or 0.49 per cent.
Raising of bets by speculators, driven by a rise in demand from consuming industries at the spot market against limited supplies from key producing regions, drove mentha oil prices higher in futures trade.
“Lower arrivals from major producing belts of Chandausi in Uttar Pradesh are supporting prices. Export demand of oil in global markets is likely to be improved due to recovery in currency which is supportive for prices,” said brokerage Motilal Oswal Securities.
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