Mentha oil prices were trading higher by 0.75 per cent to Rs 1,657 per kg in futures market today as speculators engaged in building up positions, amid pick-up in demand in domestic industries.
Besides, lower stock positions due to restricted arrivals from the major producing belts of Chandausi, gave support to mentha prices.
In futures trading at the Multi Commodity Exchange, mentha oil for delivery in the current month rose by Rs 12.30, or 0.75 per cent, to Rs 1,657 per kg, clocking a business volume of 76 lots.
The oil for January delivery rose by Rs 11.50, or 0.69 per cent, at Rs 1,684 per kg, with a trading volume of 486 lots.
Marketmen said raising of bets by speculators, driven by rising demand from consuming industries at the spot market against restricted supplies from Chandausi, led to rise in mentha oil prices in futures trade.
Disclaimer: No Business Standard Journalist was involved in creation of this content
