Mentha oil futures extend gain, up 0.43 pc on strong demand

Amid rising domestic demand and restricted supplies from producing belts, mentha oil prices strengthened by 0.43 per cent to Rs 1,015.50 per kg in futures trade today as traders enlarged positions.
At the Multi Commodity Exchange, mentha oil for delivery in January advanced by Rs 4.30, or 0.43 per cent to Rs 1,015.50 per kg in a business turnover of 40 lots.
On similar lines, the oil for delivery in December traded higher by Rs 4, or 0.40 per cent to Rs 1,007.40 per kg in 184 lots.
Market analysts said expanding positions by participants owing to strong demand from consuming industries in the spot market against tight stocks position on fall in supplies from Chandausi in Uttar Pradesh, mainly kept mentha oil prices higher at futures trade.