Mentha oil futures rose by Rs 5.50 to Rs 1,338 per kg in futures market today as speculators enlarged their positions, driven by the pick up in spot market demand.
Tight stocks availability in the physical market following less arrivals from Chandousi in Uttar Pradesh also influenced the prices.
At the Multi Commodity Exchange, mentha oil for delivery in July added Rs 5.50, or 0.41%, to Rs 1,338 per kg, with a business turnover of 821 lots.
The August contract gained Rs 5, or 0.37%, to Rs 1,362.90 per kg in 1,188 lots.
Market analysts said increased buying by speculators, driven by the pick up in demand from pharmaceutical industries in the spot market kept mentha oil futures firm.
