Mentha oil prices were trading higher by 3 per cent to Rs 1,286.50 per kg in futures market today after participants raised bets, taking positive cues from spot market on pickup in demand from consuming industries.
Further, restricted supplies from the major producing belts of Chandausi in Uttar Pradesh too supported mentha oil prices uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in the current month contract was higher by Rs 37.40, or 3 per cent, to Rs 1,286.50 per kg, clocking a business volume of 156 lots.
The oil for June delivery was trading higher by Rs 14.10, or 1.23 per cent, at Rs 1,258 per kg, with a trading volume of just one lot.
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.
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