Mentha oil futures gain on rise in spot demand

Mentha oil extended its gains for the second successive day by adding Rs 17.50 to Rs 1,092 per kg in futures trade today, supported by rising demand in the spot market against restricted arrivals. 

At the Multi Commodity Exchange, mentha oil for April contract rose by Rs 17.50, or 1.63 per cent, to Rs 1,092 per kg, with an open interest of a single lot.

Likewise, the oil for delivery in February moved up by Rs 16.60, or 1.51 per cent, to Rs 1,114.60 per kg, with a business turnover of one lot.  

Market analysts said rising demand in the spot market against tight arrivals from the producing region, mainly supported the uptrend in the mentha oil futures prices.