Mentha oil futures remain up on tight supply, increased demand

Extending its rising streak for the fourth straight session, mentha oil prices rose 0.24 per cent to Rs 681 per kg in futures trade today as speculators engaged in enlarging positions amidst tight stocks position in the physical market on restricted supplies from producing belts.
At the Multi Commodity Exchange, mentha oil for delivery in October gained Rs 1.60, or 0.24 per cent, to Rs 681 per kg in a business turnover of 61 lots.
Likewise, the oil for delivery in November added Rs 1.50, or 0.22 per cent, to Rs 693 per kg in 282 lots.
Market analysts said increased demand from consuming industries in the spot market against tight supplies on restricted arrivals from Chandausi in Uttar Pradesh mainly kept mentha oil higher at futures trade.