Mentha oil prices surged 1.59 per
cent to Rs 1,169 per kg in futures market today after participants raised their bets on rise in demand from consuming industries.
Besides, tight stocks position on restricted supplies from major growing regions of Chandausi in Uttar Pradesh also supported mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in the current month rose Rs 18.30, or 1.59 per cent, to Rs 1,169 per kg, clocking a business volume of 205 lots.
The oil for July delivery traded higher by Rs 17.70, or 1.53 per cent up, at Rs 1,174.20 per kg with a trading volume of 57 lots.
Marketmen said speculators raised bets following pick up in demand from consuming industries at the spot market against restricted supplies from Chandausi, mainly led to the rise in mentha oil prices.
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