Mentha oil futures add gain, up 0.70% on increased demand

Continuing its upward march, mentha oil prices rose further by 0.70 per cent to Rs 1,728 per kg in futures trading today as speculators engaged in building up positions, driven by surging demand in the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in November advanced by Rs 12, or 0.70 per cent to Rs 1,728 per kg in business turnover of 128 lots.
Similarly, the oil for delivery in far-month January 2018 gained Rs 11.50, or 0.66 per cent to Rs 1,751.20 per kg in 253 lots.
Analysts said expanding of positions by participants, tracking strong demand from consuming industries in the physical market against tight stocks position on fall in arrivals from Chandausi kept mentha oil prices higher at futures trade.