Mentha oil futures extend gains, up 0.66% on rising demand

Extending yesterday's gain, mentha oil prices advanced by 0.66 per cent to Rs 960.70 per kg in futures trade today as speculators enlarged positions, driven by rising demand from consuming industries in the spot market.
Furthermore, tight stocks position in the physical market on restricted supplies from producing region supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in September rose Rs 6.30, or 0.66 per cent to Rs 960.70 per kg in business turnover of 134 lots.
Likewise, the oil for delivery in August traded higher by Rs 6 or 0.64 per cent to Rs 949.40 per kg in 483 lots.

Analysts said besides rising demand from consuming industries in the spot market against restricted arrivals from Chandausi in Uttar Pradesh mainly kept mentha oil prices higher at futures trade.