Mentha oil gained Rs 16.10 to Rs 1,367.50 per kg in futures trade today as speculators enlarged their positions, tracking a firming spot market trend on strong industrial as well export demand.
Paucity of stocks following less arrivals from Chandousi in Uttar Pradesh also supported the uptrend in mentha oil prices.
At the MCX, mentha oil for delivery in July rose by Rs 16.10, or 1.19%, to Rs 1,367.50 per kg, with a business turnover of 14 lots.
The June contract moved up by Rs 15.40, or 1.16%, to Rs 1,365 per kg, with an open interest of 124 lots.
Market analysts said increased buying by speculators on the back of less arrivals from Chandousi in Uttar Pradesh mainly pushed up mentha oil prices at futures trade.
They said fresh enquiries from pharmaceutical units also influenced mentha oil prices.
