Mentha oil was trading higher by 3.96 per cent to Rs 1,495 per kg in futures market today after participants raised bets, taking positive cues from spot market on pick-up in demand from consuming industries.
Further, restricted supplies from the major producing belts of Chandausi in Uttar Pradesh, too, supported the uptrend in mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in the current month was trading higher by Rs 57, or 3.96 per cent, at Rs 1,495 per kg clocking a business volume of 733 lots.
The oil for August delivery was trading higher by Rs 56.10, or 3.85 per cent, to Rs 1,512.70 per kg with a trading volume of 226 lots.
Marketmen said, raising of bets by speculators, driven by surging demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
Disclaimer: No Business Standard Journalist was involved in creation of this content