Mentha oil futures maintain upward trend on increased demand

Extending gains for the seventh day, mentha oil traded higher by 0.54 per cent to Rs 926.70 per kg in futures market today as participants indulged in enlarging their positions, supported by increased demand from consuming industries at spot market.

At the Multi Commodity Exchange, mentha oil for delivery in November moved up by Rs 5 or 0.54 per cent to Rs 926.70 per kg in business turnover of 107 lots.

In a similar fashion, the oil for delivery in October contracts gained Rs 4.40 or 0.47 per cent to Rs 936.30 per kg in 108 lots.

Analysts said building of positions by traders amid strong demand from consuming industries at the spot market against restricted supplies from Chandausi, mainly kept mentha oil prices higher at futures trade.