Mentha oil prices rose by Rs 5.10 to Rs 1,322.30 per kg in futures trade today, as speculators enlarged their holdings tracking a rising industrial demand in spot markets against restricted supply.
At the Multi Commodity Exchange, mentha oil for delivery in December rose by Rs 5.10, or 0.38%, to Rs 1,322.30 per kg, clocking a business volume of 122 lots.
The November contract traded higher by Rs 5, or 0.37%, to Rs 1,330.90 per kg, with a trading volume of 501 lots, while January delivery prices rose by Rs 3.90, or 0.29%, to Rs 1,312.50 per kg, with a trade turnover of 28 lots.
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.
Rising demand from the pharma industry also kept mentha oil prices higher in the futures market, they said.