Mentha oil up by 0.5% on firm spot demand

Extending gains for the third straight day, mentha oil prices rose by another 0.47% to Rs 936.90 per kg in futures trade today as traders enlarged positions, driven by rising demand in the spot market.

Besides, tight stocks position in the physical market on restricted supplies from producing regions, supported the upside.

At the Multi Commodity Exchange, mentha oil for delivery in February rose by Rs 4.30, or 0.47% to Rs 936.90 per kg in a business turnover of 180 lots.

Similarly, the oil for delivery in March traded higher by Rs 4.10, or 0.43% to Rs 948 per kg in 18 lots.
 
Analysts said besides rising demand from consuming industries in the spot market, restricted supplies from Chandausi in Uttar Pradesh kept mentha oil prices higher at futures trade.