NEW DELHI:
Mentha oil prices rose 1.37 per cent to Rs 1,318 per kg in futures market today as speculators raised bets amid pick-up in demand from consuming industries in the domestic spot market.
Besides, tight stocks position on restricted supplies from major growing regions of
Chandausi
in
Uttar Pradesh, supported the uptrend in mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in May rose Rs 17.80, or 1.37 per cent, to Rs 1,318 per kg, clocking a business volume of 163 lots.
The oil for current month delivery traded up Rs 11.20, or 0.78 per cent higher at Rs 1,430 per kg, with a trading volume of 197 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.
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