Mentha oil prices rose 1.63 per cent to Rs 1,216.80 per kg in futures market today after participants raised their bets on uptick 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.
At the Multi Commodity Exchange, mentha oil for delivery in April contract rose by Rs 19.50, or 1.63 per cent, to Rs 1,216.80 per kg, clocking a business volume of 110 lots.
The oil for this month delivery traded higher by Rs 12.90, or 1.06 per cent, at Rs 1,223.40 per kg with a trading volume of 347 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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