Mentha oil futures gain 2.17% amid strong demand from consuming industries

NEW DELHI: Mentha oil prices gained 2.17 per cent to Rs 744.50 per kg in futures trade on Monday as speculators enlarged positions, tracking a firm trend at spot market on strong demand from consuming industries.

Besides, restricted arrivals from producing regions fuelled the uptrend.

At the Multi Commodity Exchange (MCX), mentha oil for delivery in December month moved up by Rs 15.80, or 2.17 per cent to Rs 744.50 per kg in business turnover of 600 lots.

Similarly, the oil for delivery in January next year rose by Rs 15.90, or 2.15 per cent to Rs 755.70 per kg in 398 lots.

Market analysts said firming trend at the spot markets on strong demand from consuming industries against restricted arrivals from Chandausi in Uttar Pradesh, mainly led to the rise in mentha oil prices at futures trade.