Mentha up by 0.3% on rising demand

Extending gains for the second day, mentha oil prices rose further by 0.29% to Rs 758.90 per kg in futures trade today as speculators enlarged positions largely on rising demand in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in March month gained Rs 2.20, or 0.29% to Rs 758.90 per kg in business turnover of 187 lots.

Similarly, the oil for delivery in February contracts edged up by Rs 2.10, or 0.28% to Rs 748.40 per kg in 87 lots.

Market analysts said apart from rising demand from pharmaceutical units in the spot market, restricted supplies from Chandausi in Uttar Pradesh, mainly kept mentha oil prices higher at futures trade.