NEW DELHI: Mentha oil prices jumped in futures trade on Monday as speculators built up fresh positions amid pick up in demand at the domestic spot market.

Around 12:20 pm, MCX Mentha oil was at Rs 1,635.30 per kg, up by Rs 22.60, or 1.40 per cent.

Raising of bets by speculators, driven by surging demand from consuming industries at the spot market against limited supplies from key producing industries, drove mentha oil prices higher in futures trade.

According to brokerage Geojit Financial Services, a pullback to Rs 1,640 ranges may be seen in mentha oil futures before decline resumes. However, an unexpected rise above Rs 1,680 may lessen weakness.