Mentha oil up 0.3% on rising demand

Oil for delivery in October gained 0.31%

Mentha oil prices rose further by 0.35% to Rs 685.10 per kg in futures trade today as speculators indulged in enlarging positions, supported by rising demand from consuming industries in the spot market.

Tight supplies in the physical market on restricted arrivals from producing belts further fuelled the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in November advanced by Rs 3.60, or 0.35% to Rs 685.10 per kg in business turnover of 54 lots.

Similarly, the oil for delivery in October gained Rs 2.10, or 0.31% to Rs 675.40 per kg in 171 lots.

Market analysts said besides rising demand from consuming industries in the spot market, restricted arrivals from Chandausi in Uttar Pradesh, mainly kept mentha oil prices remain higher at futures trade.