Mentha oil remains up in futures trade as spot demand picks up

Mentha oil extended its gains for the second day by adding Rs 1.60 to Rs 1,065 per kg in futures trade today, mostly supported by increased demand in the spot market against restricted arrivals.

At the Multi Commodity Exchange counter, mentha oil for delivery in March gained Rs 1.60, or 0.15 per cent, to Rs 1,065 per kg, with with a business turnover of five lots. 

Similarly, the oil for delivery in February traded higher by 80 paise, or 0.07 per cent, to Rs 1,072.10 per kg, with an open interest of just one lot.  

Market analysts said increased demand in the spot market against tight arrivals from the producing region, led to the rise in mentha oil futures price.  

They said some enquiries from pharmaceutical units also supported the uptrend.