Mentha oil futures up on high demand

NEW DELHI: Mentha oil futures prices today gained 0.21 per cent to Rs 1,415.20 per kg, after speculators enlarged their positions driven by increased domestic and export demand.

Tight supplies in the physical market following less arrivals from Chandousi in Uttar Pradesh also boosted the sentiment.

At the Multi Commodity Exchange, mentha oil for delivery in January added Rs 2.90, or 0.21 per cent, to Rs 1,415.20 per kg in business turnover of 369 lots.

Similarly, the oil for delivery in February traded higher by Rs 3, or 0.21 per cent, to Rs 1,430.50 per kg in 51 lots.

Market analysts said besides increased domestic as well as export demand in the spot market, lower arrivals from Chandousi in Uttar Pradesh, mainly kept mentha oil firm at futures trade.