Friday, 8 November 2013

MCX Mentha oil futures lifted by Limited arrivals

Mentha oil prices rose by 0.74 per cent on Friday at the Multi Commodity Exchange (MCX) due to tight stocks position in the physical market due to restricted arrivals from producing belts. At MCX, Mentha oil futures for November 2013 contract, at MCX, were trading at Rs. 877 per kg, up by 0.74 per cent after opening at Rs. 873 against the previous closing price of Rs. 870.60. It touched the intra-day high of Rs. 888 till the trading.Sentiment improved further as traders engaged in creating positions on account of good demand from consuming industries and lower arrivals from Chandausi in Uttar Pradesh.
About 80 per cent of the crop in India comes from Uttar Pradesh (Rampur, Moradabad, Bareilly, Barabanki and Badaun) and the balance 20 per cent from Punjab, Himachal Pradesh and Haryana.


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