Mentha oil gained by Rs 20.40 to Rs 1,284 per kg in futures trade today as traders created fresh positions, influenced by rising demand at the spot market.
Mentha oil prices picked up in futures trade driven by a rising export and domestic demand from pharmaceutical Industries.
At the Multi Commodity Exchange, September mentha oil gained by Rs 20.40, or 1.61% to Rs 1,284 per kg with a business volume of 580 lots.
The October contract gained Rs 18.50, or 1.44% to Rs 1,295.80 per kg with a trading volume of 213 lots, while November delivery added Rs 17.10, or 1.33% to Rs 1,295.90 per kg in 52 lots.
Analysts said fresh buying by speculators on rising spot market demand and lower arrivals from producing region of Chandausi in Uttar Pradesh mainly pushed up mentha oil prices in the futures trade.
Increasing export and domestic demand from pharmaceutical Industries kept the trend firm for mentha oil in the spot and futures market, they said.