Mentha oil prices surged 2.72 per
cent to Rs 1,552.70 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 41.10, or 2.72 per cent, to Rs 1,552.70 per kg, clocking a business volume of 410 lots.
The oil for August delivery traded higher by Rs 40.40, or 2.64 per cent up, at Rs 1,572 per kg with a trading volume of 292 lots.
Marketmen said speculators raised bets following pick up in demand from consuming industries at the spot market against restricted supplies from Chandausi, leading to the rise in mentha oil prices.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)