Mentha oil prices were trading higher by 1.19 per cent at Rs 1,229.40 per kg in futures market today as speculators raised bets amid pick-up in demand from consuming industries in the domestic spot market.
Further, ample stocks position on higher supplies from Chandausi in Uttar Pradesh too weighed on mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in the current month rose Rs 14.50, or 1.19 per cent, to Rs 1,229.40 per kg, clocking a business volume of 399 lots.
The oil for April delivery rose by Rs 12.17, or 1.06 per cent, at Rs 1,214.50 per kg, with a trading volume of 55 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 the rise in mentha oil prices in futures trade.
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