Mentha oil extends gains, climb 1.76% on spot demand

Rising for fourth straight day, as limited supplies from key producing belt support uptrend

Rising for the fourth straight day, mentha oil rose further by 1.76 per cent to Rs 934.90 per kg in futures trade today as speculators indulged in enlarging positions, tracking a firm trend at spot market on increased demand from consuming industries.

Besides, tight stock position in the physical market following restricted supplies from Chandausi in Uttar Pradesh supported the price rise.

At Multi Commodity Exchange, mentha oil for delivery in June went up by Rs 16.20, or 1.76 per cent, to Rs 934.90 per kg in business turnover of 244 lots.

The May contract climbed Rs 15.20, or 1.68 per cent, to Rs 919.50 per kg in 926 lots.