Mentha oil prices rose 1.65 per cent to Rs 1,166.90 per kg in futures market today after participants raised their bets, taking positive cues from the spot market on pick up in demand from consuming industries.
Restricted supplies from the major producing belts of Chandausi in Uttar Pradesh too supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in the current month contract was higher by Rs 19, or 1.65 per cent, to Rs 1,166.90 per kg, clocking a business volume of 191 lots.
The oil for July delivery was trading higher by Rs 14.20, or 1.22 per cent, at Rs 1,182 per kg, with a trading volume of just one lot.
Marketmen said raising of bets by speculators, driven by surging demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
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