Mentha oil climbs over 2% in morning trade
NEW DELHI: Mentha oil prices advanced over 2 per cent in futures trade
on Monday as market participants increased their positions following rise in demand from consuming industries at the spot markets.
MCX Mentha Oil futures were up 2.52 per cent at Rs 1,788.50 per 1 kg at around 11.25 am (IST).
According to SMC Global Securities, a bundle of factors ranging from weaker rupee against dollar, weather disturbance over major parts of Uttar Pradesh keeping arrivals on lower side and robust demand from bulk consumers may push mentha oil futures (Sept) prices higher.
The domestic currency touched another fresh low of 72.49 on Monday, weakening by 75 paise from its previous close of 71.74 per US dollar.
Derived from herb Mentha arvensis through distillation, mentha oil is mostly used for food and flavourings.
MCX Mentha Oil futures were up 2.52 per cent at Rs 1,788.50 per 1 kg at around 11.25 am (IST).
According to SMC Global Securities, a bundle of factors ranging from weaker rupee against dollar, weather disturbance over major parts of Uttar Pradesh keeping arrivals on lower side and robust demand from bulk consumers may push mentha oil futures (Sept) prices higher.
The domestic currency touched another fresh low of 72.49 on Monday, weakening by 75 paise from its previous close of 71.74 per US dollar.
Derived from herb Mentha arvensis through distillation, mentha oil is mostly used for food and flavourings.