Mentha oil prices were trading up 1.84 per cent to Rs 1,306.90 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.
At the Multi Commodity Exchange, mentha oil for delivery in the current month rose by Rs 23.60, or 1.84 per cent, to Rs 1,306.90 per kg, clocking a business volume of 51 lots.
The oil for March delivery traded higher by Rs 22.40, or 1.74 per cent, at Rs 1,312 per kg with a trading volume of 344 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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