Mentha oil futures prices rose further by Rs 17.40 to Rs 1,170 per kg today, as traders created fresh positions, driven by a pick up in demand at spot markets.
Expectations of lower production and rising export demand from China are expected to provide support to the prices.
At the Multi Commodity Exchange counter, mentha oil for delivery in February rose by Rs 17.40, or 1.50 per cent, to Rs 1,170 per kg in a business volume of 62 lots, while January contract was up by Rs 17.20, or 1.49 per cent, to Rs 1,164.50 per kg, with trading volume of 530 lots.
Similarly, the oil for March surged by Rs 15.90, or 1.38 per cent, to Rs 1,166 per kg, with a trade volume of 32 lots.
Market analysts said fresh positions created by speculators, supported by pick up in domestic and export demand, pushed up mentha oil futures prices.
Besides, reports of fall in production also influenced prices, they said.
Top Section
Explore Business Standard