Mentha oil futures gain 0.56% on spot demand

Mentha oil prices gained 0.56 per cent to Rs 933.10 per kg in futures trade today amid pick up in demand from consuming industries at spot market and tight supplies from producing regions.

At the Multi Commodity Exchange, mentha oil for delivery in far-month October edged up Rs 5.20, or 0.56 per cent, to Rs 933.10 per kg in a business turnover of 201 lots.

Likewise, the oil for delivery in September traded higher by Rs 5, or 0.55 per cent, to Rs 919.80 per kg in 78 lots.

Analysts said fresh positions built up by speculators, after demand from consuming industries picked up in the spot market amid restricted supplies from Chandausi in Uttar Pradesh, led to the rise in mentha oil prices.