Mentha oil futures extend gain, up 2.17% on rising demand

Mentha oil prices advanced by 2.17 per cent to Rs 1,559 per kg in futures market today as participants engaged in building up positions, tracking a firm trend at spot market on strong demand.
At the Multi Commodity Exchange, mentha oil for delivery in November shot up by Rs 33.10, or 2.17 per cent to Rs 1,559 per kg in business turnover of 1,240 lots.
On similar lines, the oil for delivery in December traded higher by Rs 32.50, or 2.11 per cent to Rs 1,576 per kg in 341 lots.
Analysts said widening of positions by traders due to increased demand from consuming industries in the physical market against tight stocks position on fall in arrivals from Chandausi, mainly kept mentha oil prices higher at futures trade.