Mentha oil futures remain up on strong demand

Mentha oil prices rose further by 0.26 per cent to Rs 1,020.80 per kg in futures market today as traders widened their bets, tracking a firm trend at spot on rising demand from consuming industries.
At the Multi Commodity Exchange, mentha oil for delivery in February rose by Rs 2.60, or 0.26 per cent, to Rs 1,020.80 per kg, in a business turnover of 57 lots.
Likewise, the oil for delivery in January was trading higher by Rs 1.90, or 0.19 per cent, to Rs 1,003.60 per kg in 26 lots.
Analysts said increasing of positions by traders on the back of strong demand from consuming industries in the physical market against tight supplies from producing belts mainly kept mentha oil prices higher at futures trading.