Mentha oil futures gained Rs 6.80 to Rs 1,360 per kg today as traders enlarged their positions following a rise in industrial and export demand.
A firming trend in the spot market on account of a rise in demand and restricted supply from the growing belt of Chandausi, in Uttar Pradesh, also supported the uptrend.
At the Multi Commodity Exchange, mentha oil for December delivery rose by Rs 6.80, or 0.50%, to Rs 1,360 per kg, with an open interest for 235 lots.
Similarly, the oil for November contract delivery gained Rs 5.40, or 0.39%, to Rs 1,358.40 per kg in 354 lots, while January delivery mentha oil moved up by Rs 5.20, or 0.38%, to Rs 1,349 per kg in 15 lots.
Analysts said fresh buying by traders following a pick-up in spot demand and lower arrivals from Chandausi mainly pushed up mentha oil prices in futures trade.
Increased export and pharmaceutical industry enquiries also pushed up mentha oil futures prices, they said.
