Mentha oil up 0.5% on strong demand, tight supply

Oil for delivery in May gained 0.39%

Mentha oil prices gained for the fifth-straight by gaining 0.56% to Rs 860 per kg in futures market today, supported by strong demand from consuming industries in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in June advanced by Rs 4.80, or 0.56% to Rs 860 per kg in business turnover of 563 lots.

In a similar manners, the oil for delivery in May gained Rs 3.30, or 0.39% to Rs 849.80 per kg in 54 lots.

Analysts said besides strong demand from consuming industries in the spot market, tight supplies from producing regions attributed rise in mentha oil prices at futures trade.