Mentha oil prices jump on healthy spot demand
"The sentiment for mentha oil is positive because of a rise in demand from domestic stockists amid lower inventories," said brokerage SMC Global Securities.
By ETMarkets.com |
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NEW DELHI: Mentha oil prices climbed in the futures trade in Wednesday's session, supported by a rise in demand by the consuming industries at the spot market.
Around 11:55 am, MCX Mentha oil was at Rs 1,687.90 per kg, up by Rs 22.60, or 1.36 per cent.
As per market observers, raising of bets by speculators due to rising demand from consuming industries in the physical markets against restricted supplies from key producing regions led to the rise in mentha oil prices in futures trade.
"The sentiment for mentha oil is positive because of a rise in demand from domestic stockists amid lower inventories," said brokerage SMC Global Securities.
As per Geojit Financial Services, as long as Rs 1,640 level is held, the commodity may inch higher.
Around 11:55 am, MCX Mentha oil was at Rs 1,687.90 per kg, up by Rs 22.60, or 1.36 per cent.
As per market observers, raising of bets by speculators due to rising demand from consuming industries in the physical markets against restricted supplies from key producing regions led to the rise in mentha oil prices in futures trade.
"The sentiment for mentha oil is positive because of a rise in demand from domestic stockists amid lower inventories," said brokerage SMC Global Securities.
As per Geojit Financial Services, as long as Rs 1,640 level is held, the commodity may inch higher.
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