Mentha oil prices rose further by 1.81 per cent to Rs 1,174.60 per kg in futures trade today as speculators enlarged positions, tracking a firm trend at spot market on rising demand from consuming industries.
Besides, tight stocks position on fall in arrivals from Chandausi in Uttar Pradesh too fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in April shot up by Rs 20.90, or 1.81 per cent to Rs 1,174.60 per kg in business turnover of 101 lots.
On similar lines, the oil for delivery in March contracts was trading higher by Rs 20.20, or 1.74 per cent to Rs 1,180.50 per kg in 347 lots.
Analysts said widening of positions by traders, driven by rising demand from consuming industries in the spot market against restricted supplies from Chandausi, kept mentha oil prices higher at futures trade.