Mentha oil prices gained 0.23 per cent to Rs 705.90 per kg in futures trade today as speculators indulged in creating fresh positions on increased demand from consuming industries in the spot market.
Further, tight stocks position in the physical market due to less arrivals from producing belt fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in December edged higher by Rs 1.60, or 0.23 per cent, to Rs 705.90 per kg in a business turnover of 185 lots.
In a similar fashion, the oil for delivery in January next year traded up by Rs 1.10, or 0.15 per cent, to Rs 716.30 per kg in 53 lots.
Analysts said apart from fresh positions built-up by speculators after pick-up in demand from consuming industries in the spot market, restricted arrivals from Chandausi in Uttar Pradesh mainly led to the rise in mentha oil prices in futures trade.
