Mentha oil up 0.3% on strong demand

Rising for the second straight day, mentha oil prices advanced 0.31% to Rs 914 per kg in futures trading today as speculators built up bets on the back of good demand from the consuming industries in the spot market.

Tight stocks position on restricted supplies from producing regions also supported the upside.

At the Multi Commodity Exchange, mentha oil for delivery in January 2016 gained Rs 2.80 or 0.31% to Rs 914 per kg in a business turnover of 153 lots.

On similar lines, the oil for delivery in December contracts edged up by Rs 2.50 or 0.28% to Rs 905.20 per kg in 10 lots.
 
Market analysts said besides strong demand from consuming industries in the spot market, restricted supplies from Chandausi in Uttar Pradesh kept mentha oil prices higher at futures trade.