Mentha oil prices up 1.15 per cent to Rs 1,808.40 per kg in futures market Wednesday as participants increased their bets amid rise in demand from consuming industries at the spot markets.
Besides, tight stocks position on restricted supplies from major growing regions of Chandausi in Uttar Pradesh also supported the upside in mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in September was trading higher by Rs 20.60, or 1.15 per cent, to Rs 1,808.40 per kg with a business volume of 301 lots.
Marketmen said widening of positions by traders following pick up in demand from consuming industries in the physical market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
The oil for October was also up by Rs 11.80, or 0.65 per cent, to Rs 1,820 per kg with a trading volume of 33 lots.
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