Mentha oil prices surged 2.50 per cent to Rs 1,309.90 per kg in futures market today as speculators raised bets, driven by rising demand from consuming industries in the domestic spot market.
At the Multi Commodity Exchange, mentha oil for delivery in March shot up by Rs 31.90, or 2.50 per cent, to Rs 1,309.90 per kg in business turnover of 567 lots.
Likewise, the oil for delivery in April contracts gained Rs 22, or 1.76 per cent, to Rs 1,272 per kg in 502 lots.
Marketmen said increase in positions by participants on the back of strong demand from consuming industries in the spot market against tight stocks position on fall in supplies from Chandausi pushed up mentha oil prices in futures trade.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
RECOMMENDED FOR YOU