Mentha oil futures extend gains, up 0.67% on rising demand

Extending its rising streak for the fourth day, mentha oil prices advanced by 0.67 per cent to Rs 840 per kg in futures trade today as traders engaged in enlarging positions, tracking a firm trend at spot market on strong demand.
Besides, tight stocks position on restricted supplies from major producing regions supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in April month gained Rs 5.60, or 0.67 per cent to Rs 840 per kg in business turnover of 674 lots.
Likewise, the oil for delivery in far-month May contracts traded higher by Rs 4.50, or 0.53 per cent to Rs 848.40 per kg in 127 lots.

Analysts said apart from a firm trend at spot market on rising demand from consuming industries, restricted supplies from producing belts kept mentha oil prices higher at futures trade.