Mentha oil gains by 0.3% on rising demand

Mentha oil prices advanced by 0.31% to Rs 706.60 per kg in futures trading today as speculators engaged in enlarging positions amid firm demand in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in January next year added Rs 2.20, or 0.31% to Rs 706.60 per kg in business turnover of 9 lots.

In a similar fashion, the oil for delivery in December contract edged up by Rs 1.40, or 0.20% to Rs 694.50 per kg in 51 lots.

Analysts said besides rising demand from consuming industries in the spot market, restricted arrivals from Chandausi in Uttar Pradesh mainly kept mentha oil firm at futures trade.