Mentha oil futures extend gains, up 1.80% on strong demand

Mentha oil prices rose by 1.80 per cent to Rs 1,253.90 per kg in futures trade today as participants engaged in enlarging their positions, tracking a firm trend at spot market on strong demand from consuming industries.
Besides, tight stocks position on arrivals from producing belts too fulled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in November went up by Rs 22.20, or 1.80 per cent to Rs 1,253.90 per kg in business turnover of 301 lots.
Similarly, the oil for delivery in October gained Rs 20.80, or 1.71 per cent to Rs 1,238.20 per kg in 726 lots.

Marketmen said raising of bets by traders on the back of firm demand from consuming industries in the physical market against restricted supplies from Chandausi, kept mentha oil prices higher at futures trade.