Mentha oil prices jumped 1.94 per cent to Rs 1,182.50 per kg in futures market today as participants raised their bets, taking positive cues from the spot market on pick-up in demand from consuming industries.
Restricted supplies from the major producing belts of Chandausi in Uttar Pradesh also supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in the current month contract was higher by Rs 22.50, or 1.94 per cent, to Rs 1,182.50 per kg, clocking a business volume of 135 lots.
The oil for July delivery was trading higher by Rs 18.90, or 1.59 per cent to Rs 1,201.20 per kg, with a trading volume of 308 lots.
Marketmen said raising of bets by speculators, driven by surging 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.)