Mentha oil futures remain up on rising demand

Mentha oil futures prices rose further for the second straight day by adding Rs 6.30 to Rs 1,237 per kg today on rising domestic and export demand against restricted arrivals. 

Increased offtake from pharmaceutical units further influenced the trading sentiment.  

At the Multi Commodity Exchange counter, mentha oil for November delivery rose by Rs 6.30, or 0.51 per cent to Rs 1,237 per kg, with a trade volume of just one lot.

Similarly, the oil for delivery in December gained Rs 5.40, or 0.44 per cent to Rs 1,244 per kg, with a trade volume of just one lot.

Market analysts said increased positions by speculators on rising demand against tight supply, pushed up mentha oil futures prices.  

They said rising demand among pharmaceutical units for manufacturing of cough syrups and other medicines further fueled the uptrend.