Mentha oil futures gain 0.32% on tight supply

Mentha oil prices were up 0.32 per cent to Rs 971 per kg in futures trade today as speculators widened positions amid tight supplies from producing belts at spot market.

At the Multi Commodity Exchange, mentha oil for delivery in September rose Rs 3.10, or 0.32 per cent to Rs 971.00 per kg in a business turnover of 43 lots.

Similarly, the oil for delivery in August contracts moved up by Rs 2.20, or 0.23 per cent to Rs 959.00 per kg in 430 lots.

Market analysts said besides rising demand from consuming industries at the spot market, tight supplies on restricted arrivals from Chandausi in Uttar Pradesh, mainly led to the rise in mentha oil prices in futures trade.