Mentha oil prices rose 0.99 per cent to Rs 1,063.30 per kg in futures trade on the first trading day of 2017 today as participants built up fresh bets amid uptick in demand from major consuming industries in the domestic spot market.
Further, tight stocks position on restricted supplies from major producing belts of Chandausi in Uttar Pradesh, too supported the rise in mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in far-month February gained Rs 10.40, or 0.99 per cent, to Rs 1,063.30 per kg, with a trading volume of 19 lots.
Similarly, the oil for delivery in January edged up by Rs 10.10, or 0.97 per cent, to Rs 1,055.90 per kg, with a business turnover of 270 lots.
Marketmen said a firming trend at spot markets amid restricted supplies from Chandausi in Uttar Pradesh mainly influenced mentha oil prices at futures trade here.
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