Mentha oil extends gains on increased industrial demand

Increased demand from pharma sector in spot mkt amid lower supply has kept mentha oil prices firm at futures trade

Mentha oil extended gains for the second day in a row with prices rising by Rs 12.50 to Rs 1,343.20 per kg in futures trading today on increased demand.

At the Multi Commodity Exchange, the August contract for mentha oil added Rs 12.50, or 0.94%, to Rs 1,343.20 per kg, with a business turnover of 331 lots.

The July contract gained Rs 11, or 0.84%, to Rs 1,318 per kg, with an open interest of 1,014 lots.

Marketmen said increased demand from pharmaceutical industries in the spot market amid lower arrivals from Chandausi in Uttar Pradesh mainly kept mentha oil prices firm at futures trade.