Mentha oil gains by 0.5% on tight supply

Mentha oil prices gained 0.46% to Rs 825 per kg in futures trading today as speculators built up positions, triggered by tight supplies from producing belts against increased demand from consuming industries in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in March rose by Rs 3.80, or 0.46%, to Rs 825 per kg in a business turnover of 318 lots.

Similarly, the oil for delivery in April traded higher by Rs 3.70, or 0.44% to Rs 835.20 per kg in 70 lots.

Analysts attributed the rise in mentha oil futures to tight supplies from Chandausi in Uttar Pradesh amid pick up in demand from consuming industries.