Mentha oil futures turn 1.1% higher on rising demand

Continuing its winning streak for the fifth straight day, mentha oil advanced 1.11 per cent to Rs 951 per kg in futures trading today as speculators indulged in enlarging positions, taking positive cues from spot market.
Besides, restricted supplies from Chandausi in Uttar Pradesh supported the upside.
At Multi Commodity Exchange, mentha oil for delivery in June gained Rs 10.40, or 1.11 per cent, to Rs 951.00 per kg in a business turnover of 127 lots.
Likewise, the oil for delivery in May contracts traded higher by Rs 9.80, or 1.06 per cent, to Rs 936.10 per kg in 637 lots.

Market analysts said besides rising demand from consuming industries in the spot market, restricted arrivals from producing belts mainly led to an upward movement in mentha oil prices.