Mentha oil up 0.34% on strong demand

Mentha oil prices advanced by 0.34 per cent to Rs 1,034 per kg in futures trade today as speculators engaged in enlarging their positions on the back of strong demand at domestic spot market.
At the Multi Commodity Exchange, mentha oil for delivery in far-month February rose by Rs 3.50, or 0.34 per cent, to Rs 1,034 per kg in business turnover of 11 lots.
On similar lines, the oil for delivery in January month contracts traded higher by Rs 2.50, or 0.24 per cent to Rs 1,024.50 per kg in 81 lots.
Analysts said widening of positions by traders backed by rising demand against tight supplies from producing belts mainly kept mentha oil prices higher at futures trading.