Mentha oil futures jump 2% on strong spot demand
India is the largest producer and exporter of mentha.
By ETMarkets.com |
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NEW DELHI: Mentha oil prices jumped higher in futures trade on Monday on higher demand at the spot market amid limited supplies.
Raising of bets by speculators, driven by surging demand from consuming industries at the spot market against limited supplies from key producing regions, drove mentha oil prices higher in futures trade.
Around 11:10 am, MCX Mentha oil was at Rs 1,480 per kg, up by Rs 26.30, or 1.81 per cent.
India is the largest producer and exporter of mentha. UP is the largest producing state which contributes around 80 per cent of the entire mentha production in the country. Sambhal, Rampur, Chandausi and Barabanki are the districts of western UP that are the key producing regions.
Raising of bets by speculators, driven by surging demand from consuming industries at the spot market against limited supplies from key producing regions, drove mentha oil prices higher in futures trade.
Around 11:10 am, MCX Mentha oil was at Rs 1,480 per kg, up by Rs 26.30, or 1.81 per cent.
India is the largest producer and exporter of mentha. UP is the largest producing state which contributes around 80 per cent of the entire mentha production in the country. Sambhal, Rampur, Chandausi and Barabanki are the districts of western UP that are the key producing regions.
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