Mentha oil remains up in futures trade

Mentha oil extended its gains for the second day by adding Rs 13.90 to Rs 1,105.50 per kg in futures trade today as speculators enlarged their positions, driven by increased demand in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in Feburary contract rose by Rs 13.90, or 1.27 per cent, to Rs 1,105.50 per kg, with a business volume of a single lot.     

Similarly, the oil for delivery in March contract moved up by Rs 12.80, or 1.16 per cent, to Rs 1,112 per kg, with a business turnover of five lots. 

Market analysts attributed rise in mentha oil at futures trade to rising demand from pharmaceutical units at the spot market against less arrivals from producing regions.