Mentha oil prices rose by 3.33% to Rs 1,158 per kg in futures trade today as speculators enlarged positions, driven by rising demand in the physical market.
Lower arrivals from the producing areas due to adverse weather conditions and rising export demand further supported the uptrend.
At the Multi Commodity Exchange, mentha oil for August delivery rose by Rs 37.40, or 3.33%, to Rs 1,158 per kg. With a business volume of 1,418 lots.
The oil for July delivery Rs 36.70, or 3.26%, to Rs 1,159.60 per kg, with trade volume of 2,032 lots.
Similarly, the oil for September delivery surged by Rs 34.80, or 3.09%, to Rs 1,159 per kg, with a business volume of 871 lots.
Market analysts said besides rising spot market demand, tight supplies from producing regions due to adverse weather conditions, also influenced mentha oil futures prices.