Mentha oil prices surged by Rs 88 to hit upper limit of 4% to Rs 2,281 per kg in futures trade today as speculators enlarged their positions, tracking a firming trend at spot market on strong domestic and export demand.
Tight supplies in the physical market following less arrivals from the growing belts of Chandausi in Uttar Pradesh, which also supported the upsurge in mentha oil prices.
At the Multi Commodity Exchange, March mentha oil surged by Rs 88, or 4%, to Rs 2,281 per kg in business turnover of 562 lots.
The April delivery jumped up by Rs 87.50, or 4%, to Rs 2,295 per kg in 46 lots.
Analysts said besides, strong domestic and export demand against less arrivals from producing regions mainly helped mentha oil prices to hit upper limit at futures market.
