Mentha oil prices advanced by 0.33 per cent to Rs 870 per kg in futures market today as participants enlarged their positions, tracking a firm trend at spot market on rising demand from consuming industries.
Furthermore, restricted arrivals from major producing regions fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in May rose by Rs 2.90 or 0.33 per cent to Rs 870 per kg in a business turnover of 15 lots.
Similarly, the oil for delivery in far-month June contracts edged up by 60 paise or 0.07 per cent to Rs 863.90 per kg in 182 lots.
Analysts said increasing of positions by traders, driven by rising demand from consuming industries in the spot markets amid restricted supplies from Chandausi in Uttar Pradesh kept mentha oil prices higher at futures trade.
