Mentha oil prices rose by Rs 5.80 to Rs 1,545.20 per kg in futures trade today as speculators enlarged their positions, driven by pick-up in spot market demand from pharmaceutical units.
Restricted arrivals from growing belts of Chandausi in Uttar Pradesh further fuelled the uptrend in mentha oil.
At the Multi Commodity Exchange, mentha oil for delivery in February rose up by Rs 5.80, or 0.38%, to Rs 1,545.20 per kg, with business volume of 601 lots.
Likewise, the oil for delivery in January moved up by Rs 5.10, or 0.33%, to Rs 1,529.70 per kg, with business volume of 1,481 lots.
Market analysts said increased buying by speculators on the back of pick-up in demand from pharmaceutical units in the spot market amid restricted arrivals from producing regions mainly pushed up mentha oil futures prices.