Mentha oil prices rose 1.57 per cent to Rs 1,144.70 per kg in futures market today as speculators raised bets amid pick-up in demand from consuming industries in the domestic spot market.
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 July rose by Rs 17.70, or 1.57 per cent, to Rs 1,144.70 per kg, clocking a business volume of 6 lots.
The oil for June month delivery was trading Rs 14.10, or 1.25 per cent, higher at Rs 1,139 per kg, with a trading volume of 343 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.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)