Mentha oil futures edge up on tight supply

Rising for the third straight day, mentha oil prices gained 0.62 per cent to Rs 990 per kg in futures market today as speculators enlarged bets amid tight supplies from producing regions.
Besides, pick-up in demand from consuming industries in the spot market and expectations of lower production from the major producing region supported the upside.
At Multi Commodity Exchange, mentha oil for delivery in June rose by Rs 610, or 0.62 per cent, to Rs 990.00 per kg in a business turnover of 578 lots.
Likewise, the oil for delivery in July contracts traded higher by Rs 5, or 0.50 per cent, to Rs 1,005.00 per kg in 129 lots.

Market analysts said restricted arrivals from producing belts mainly led to the gain in mentha oil prices.