Mentha oil futures prices remain up on increased demand

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SummaryMentha oil prices extended gains for the second straight day.

Mentha oil prices extended gains for the second straight day by adding Rs 13.70 to Rs 1373.90 per kg in futures trading today due to increased domestic and export demand in the spot market against lower arrivals from Chandausi in Uttar Pradesh.

Reports of lower output estimate this year further fuelled the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in December month gained Rs 13.70, or 1.01 per cent to Rs 1373.90 per kg in business turnover of 373 lots.

Similarly, the oil for delivery in January contract traded higher by Rs 13.40, or 0.97 per cent to Rs 1389.50 per kg in 89 lots.

Market analysts said besides increased domestic and export demand in the spot market, less arrivals from Chandausi in Uttar Pradesh mainly kept mentha oil futures remain higher for second day.

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