Uptick in demand buoys mentha oil
27/02/2017 10:53
Mentha oil futures were trading higher during morning trade in the domestic market on Monday as participants 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. Further, widening of positions by traders in the spot market was led by rise in physical demand for mentha oil from consuming industries at the domestic spot market against insufficient stocks position on restricted supplies from producing regions, supported mentha oil prices at futures trade. At the MCX, mentha oil futures for February 2017 contract is trading at Rs 1014 per kg, up by 0.49 per cent after opening at Rs 1014.50, against the previous closing price of Rs 1009.10. It touched the intra-day high of Rs 1016.40 (at 10:57 hours).
27/02/2017 10:53
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Mentha oil futures were trading higher during morning trade in the domestic market on Monday as participants 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. Further, widening of positions by traders in the spot market was led by rise in physical demand for mentha oil from consuming industries at the domestic spot market against insufficient stocks position on restricted supplies from producing regions, supported mentha oil prices at futures trade. At the MCX, mentha oil futures for February 2017 contract is trading at Rs 1014 per kg, up by 0.49 per cent after opening at Rs 1014.50, against the previous closing price of Rs 1009.10. It touched the intra-day high of Rs 1016.40 (at 10:57 hours).
