Mentha oil extends gains by 0.47% on strong demand

Mentha oil prices rose further by 0.42 per cent to Rs 1,277.90 per kg in futures trade today as traders built up more positions, tracking a firm trend at the spot market on rising demand.

At Multi Commodity Exchange, mentha oil for delivery in November went up by Rs 6.10, or 0.47 per cent, to Rs 1,277.90 per kg in a business turnover of 625 lots.

On similar lines, the oil for delivery in October gained Rs 5.30, or 0.42 per cent, to Rs 1,262.90 per kg in 498 lots.

Analysts said higher bets by participants on the back of strong demand from consuming industries in the spot market against fall in supplies from Chandausi kept mentha oil prices higher in futures trade.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)