Mentha oil remains up; gains 0.08% on rising demand

Continuing its rising streak for the fourth day, mentha oil prices were marginally up by 0.08 per cent to Rs 1,000.80 per kg in futures market today as participants engaged in enlarging their bets, amid surging demand at spot market.
At the Multi Commodity Exchange, mentha oil for delivery in January edged up by 80 paise, or 0.08 per cent to Rs 1,000.80 per kg in business turnover of 54 lots.
Likewise, the oil for delivery in February contracts was trading higher by 40 paise, or 0.04 per cent to Rs 1,013 per kg in 48 lots.
Analysts said widening of bets by speculators, driven by rising demand from consuming industries in the spot markets against restricted supplies from Chandausi kept mentha oil prices higher at futures trade.