Mentha oil futures remain up on rising demand

Continuing its rising streak for the third straight day, mentha oil prices were up by 0.15% to Rs 867.40 per kg in futures trade today as speculators engaged in enlarging their positions, taking positive cues from the spot market on rising demand.

In futures trading at the Multi Commodity Exchange, mentha oil for delivery in October gained Rs 1.30, or 0.15%, to Rs 867.40 per kg, in a business turnover of 141 lots.

Likewise, the oil for delivery in November edged up by 80 paise, or 0.09%, to Rs 878 per kg in 14 lots.

Analysts said a firm trend at spot market on rising demand from consuming industries amid restricted supplies from producing belts, mainly kept mentha oil prices higher at futures trade.