Mentha oil futures extend gains, rises 1.27%

Mentha oil prices rose 1.27 per cent to Rs 1,728.80 per kg in futures trade today as traders built up bets, tracking firm trend in the spot market on rising demand.
Besides, lower stock positions due to restricted arrivals from the major producing belts of Chandausi in Uttar Pradesh and sharp fall in output, too, supported the uptrend.
In futures trading at Multi Commodity Exchange, mentha oil for delivery in January went up by Rs 21.60, or 1.27 per cent, to Rs 1,728.80 per kg in a business turnover of 696 lots.
On similar lines, the oil for delivery in the current month gained Rs 17.10, or 1.01 per cent, to Rs 1,700 per kg in 155 lots.

Analysts said higher bets by participants on the back of strong demand from consuming industries in the spot market against fall in supplies from Chandausi kept prices higher in futures trade.