New Delhi, Jul 31 (PTI) Mentha oil prices touched the upper circuit today by rising 4 per cent to Rs 1,095.70 per kg in futures trade as speculators raised bets on the back of strong demand from the spot market. Also Read - Flight Services From Ayodhya International Airport Expected to Start Early Next Year
Besides, tight stock position following a drop in arrivals from major producing belts of Chandausi in Uttar Pradesh provided support to the prices. Also Read - Policeman Shoots Himself Dead Near UP Assembly Complex, Probe Underway
At Multi Commodity Exchange, mentha oil for delivery in August jumped by Rs 42.10, or 4 per cent, to Rs 1,095.70 per kg in a business turnover of 323 lots. Also Read - UP Gram Panchayat Election 2021: Reservation List of Seats Released For Varanasi District | Download Full List Here
On similar lines, the oil for delivery in July contracts traded higher by Rs 31.30, or 3 per cent, to Rs 1,075.50 per kg in 2 lots.
Analysts said higher holding by participants, driven by surging demand from consuming industries in the spot market against restricted supplies from Chandausi, mainly pushed up the mentha oil prices.
This is published unedited from the PTI feed.