Mentha oil prices were up 1.48 per cent to Rs 947.70 per kg in futures market today as participants enlarged their holdings on the back of rising demand from consuming industries in the spot market.
Tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also added support to mentha oil prices uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in July rose by Rs 13.90 or 1.48 per cent to Rs 947.70 per kg, clocking a business volume of 1,429 lots.
The oil for August delivery traded higher by Rs 13.30 or 1.40 per cent to Rs 957 per kg with a trading volume of 664 lots.
Analysts said fresh positions built up by speculators, driven by rising demand from consuming industries in the spot markets against restricted supplies from Chandausi led to the rise in mentha oil prices in futures trade.
