Mentha oil prices gained Rs 10.90 to Rs 970.80 per kg in futures trade today as traders created fresh positions, driven by pick-up in spot market demand from exporters and pharmaceutical units.
At the Multi Commodity Exchange, mentha oil for delivery in September gained by Rs 10.90, or 1.14%, to Rs 970.80 per kg, with a business volume of 12 lots.
Likewise, mentha oil prices for delivery in August rose by Rs 9.60, or 1%, to Rs 964 per kg, with a trading volume of 118 lots.
The mentha oil prices for July delivery surged by Rs 7.80, or 0.82%, to Rs 954 per kg, with a business volume of 393 lots.
Market analysts said fresh buying by traders following pick-up in spot demand and lower arrivals from Chandausi in Uttar Pradesh mainly pushed up mentha oil prices at futures trade.
Increasing export and pharmaceutical industry demand along with holding back of stocks by traders in anticipation of a rise in price in the coming weeks also supported the uptrend in mentha oil futures prices, they added.