Mentha oil prices were trading up 0.88 per cent to Rs 1,797.30 per kg in futures market today after participants raised bets on rise in demand from consuming industries at the spot market.
Tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also supported the uptrend in mentha oil prices.
In futures trading at the Multi Commodity Exchange, mentha oil for delivery in January rose by Rs 15.60, or 0.88 per cent, to Rs 1,797.30 per kg, clocking a business volume of 194 lots.
The oil for current delivery traded higher by Rs 14.30, or 0.81 per cent at Rs 1,774 per kg, with a trading volume of 452 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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