Mentha oil extends gains on higher demand

Mentha oil extended gains for the fourth straight day by gaining Rs 10.40 to Rs 1,684.30 per kg in futures trade today as speculators enlarged their ositions, tracking a firming trend at spot market following pick-up in demand.

At the Multi Commodity Exchange, the February contract for mentha oil gained Rs 10.40, or 0.62%, to Rs 1,684.30 per kg in business turnover of 468 lots.

The March contract traded higher by Rs 10.10, or 0.59%, to Rs 1,715.60 per kg in 359 lots.

Marketmen said pick-up in demand against less arrivals from Chandausi in Uttar Pradesh mainly kept mentha oil futures remain higher for the fourth straight day.