Mentha oil futures maintain upward trend on strong demand

Continuing its gaining streak for the fourth straight day, mentha oil prices moved up by 0.33 per cent to Rs 870.70 per kg in futures market today as participants engaged in widening their bets, tracking a firm trend at spot market on rising demand.
At the Multi Commodity Exchange, mentha oil for delivery in October rose by Rs 2.90, or 0.33 per cent, to Rs 870.70 per kg, in a business turnover of 60 lots.
Likewise, the oil for delivery in November traded higher by Rs 2.60, or 0.30 per cent, to Rs 879.70 per kg in one lot.
Marketmen said besides surging demand from consuming industries in the spot markets, restricted supplies from Chandausi in Uttar Pradesh mainly kept mentha oil prices higher at futures trade.