Mentha oil prices climb on firm spot demand
Raising of bets by speculators drove mentha oil prices higher in futures trade.
By ETMarkets.com |
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NEW DELHI: Mentha oil prices climbed in futures trade in Friday's session.
Around 12:10 pm, MCX Mentha oil was at Rs 1,678.50 per kg, up by Rs 7.60, or 0.45 per cent.
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.
As per SMC Global Securities, the sentiment is positive because of a rise in demand from domestic stockists amid lower inventories. Also, there is demand from both domestic and overseas buyers at existing price levels.
Around 12:10 pm, MCX Mentha oil was at Rs 1,678.50 per kg, up by Rs 7.60, or 0.45 per cent.
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.
As per SMC Global Securities, the sentiment is positive because of a rise in demand from domestic stockists amid lower inventories. Also, there is demand from both domestic and overseas buyers at existing price levels.
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