Mentha oil prices rose 1.24 per cent to Rs 1,697.90 per kg in futures trade today as participants increased their bets following rise in demand from consuming industries at the spot markets.
Moreover, tight stocks position on restricted supplies from major growing regions of Chandausi in Uttar Pradesh also supported the uptrend in mentha oil prices.
At the Multi Commodity Exchange, mentha oil for September contract was trading higher by Rs 20.80, or 1.24 per cent, to Rs 1,697.90 per kg with a business volume of 293 lots.
The oil for October rose by Rs 20.70, or 1.22 per cent, to Rs 1,713 per kg with a trading volume of 45 lots.
Marketmen said widening of positions by traders following pick-up in demand from consuming industries against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
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