Mentha oil futures prices rose by another Rs 1.40 to Rs 1,402.90 per kg today, extending previous gains as speculators enlarged their positions on pick up in industrial demand in the spot market.
Sentiment improved further due to tight stocks position in the physical market following less arrivals from the producing area of Chandousi in Uttar Pradesh.
At the Multi Commodity Exchange, mentha oil for delivery in September edged up by Rs 1.40, or 0.10%, to Rs 1,402.90 per kg in a business turnover of 222 lots.
The August contract traded higher by Rs 1.30, or 0.09%, to Rs 1,379.60 per kg in 1,191 lots.
Market analysts said increased buying by speculators on the back of a rise in demand in the spot market against limited arrivals from producing belts influenced mentha oil prices at futures market.