Mentha oil up 0.2% on rising demand

Mentha oil remained higher for the second straight day and prices advanced by 0.23% to Rs 904.90 per kg in futures trade owing to rising demand from consuming industries in the spot market.

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

At the Multi Commodity Exchange, mentha oil for delivery in October gained Rs 2.10, or 0.23%, to Rs 904.90 per kg in a business turnover of 203 lots.

Likewise, the oil for delivery in November traded higher by Rs 1.70, or 0.19%, to Rs 917.30 per kg in 21 lots.
 
Analysts said apart from a firm trend at the spot market on rising demand from consumers, limited arrivals from Chandausi in Uttar Pradesh, kept mentha oil prices higher at futures trade.