Mentha oil prices surged 0.96 per cent to Rs 1,496 per kg in futures market today after participants raised their bets on rise in demand from consuming industries against restricted arrivals from the producing belts.
At the Multi Commodity Exchange, mentha oil for delivery in the current month contracts rose Rs 14.30, or 0.96 per cent, to Rs 1,496 per kg clocking a business volume of 78 lots.
The oil for May delivery traded higher by Rs 7.30, or 0.58 per cent, at Rs 1,256 per kg with a trading volume of 163 lots.
Marketmen said speculators built up positions following rising demand from consuming industries at the spot market against restricted supplies from Chandausi led to the rise in mentha oil prices.