Mentha oil futures extend gains on spot demand

Supported by rising demand in the spot market, mentha oil prices extended their gains for the second straight day by adding Rs 2.50 to Rs 1,145.20 per kg in futures trade today.

At the Multi Commodity Exchange, the September contract rose by Rs 2.50, or 0.22%, to Rs 1,145.20 per kg, with a business turnover of 302 lots.

The August delivery edged up by Rs 2.40, or 0.21%, to Rs 1,125.20 per kg in 132 lots.

Market analysts said besides a rise in demand from consuming industries, restricted supplies from producing regions also supported the upside in mentha futures prices here.