Mentha oil up by 0.3% on rising demand

Mentha oil prices rose further by 0.30% to Rs 707.60 per kg in futures trade today as speculators enlarged positions, tracking a firm trend at spot market on rising demand from consuming industries.

Besides, tight supplies in the physical market from Chandausi in Uttar Pradesh further fuelled the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in December advanced Rs 2.10, or 0.30% to Rs 707.60 per kg in business turnover of 93 lots.

Similarly, the oil for delivery in November contract gained Rs 1.80, or 0.26% to Rs 696.50 per kg in 259 lots.

Market analysts said speculators' enlarged positions, driven by rising demand from consuming industries in the spot market, mainly kept mentha oil higher at futures trade.