Mentha oil futures remained up on firm demand

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{image-13-mentha-(oil)commodity.jpg www.goodreturns.in}On May 12, 2011 (Thursday), menthe oil futures prices gained in the domestic market due to taking fresh long positions by the speculators at existing price levels, driven by firm spot demand from pharmaceutical industries.

The price of May contract increased as much as 2.74 per cent to Rs. 943.80 per kg on the Multi Commodity Exchange (MCX). Moreover, fall in supplies from the major producing regions also kept the futures prices in positive zone.

At the MCX, menthe oil future for May contract closed at Rs. 932.60 per kg, up by 1.52 per cent, after opening at Rs. 922.00 against the previous closing price of Rs. 918.60. It touched the intra-day high of Rs. 943.80 with a business volume of 507 lots.

While, menthe oil future for June contract closed at Rs. 891.50 per kg, up by 0.45 per cent, after opening at Rs. 890.00 against the previous closing price of Rs. 887.50 per kg. It touched the intra-day high of Rs. 903.00 with a business volume of 218 lots.

Read more about: mentha, futures, mcx, commodities
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