Mentha oil prices up 1.98 per cent to Rs 1,670 per kg in futures market Friday as participants increased their bets amid rise in demand from consuming industries at the spot markets.
Besides, tight stocks position on restricted supplies from major growing regions of Chandausi in Uttar Pradesh also supported the upside in mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in November was trading higher by Rs 32.40, or 1.98 per cent, to Rs 1,670 per kg with a business volume of 360 lots.
The oil for October delivery was also up by Rs 29.70, or 1.83 per cent, to Rs 1,650.30 per kg with a trading volume of 599 lots.
Marketmen said widening of positions by traders following pick up in demand from consuming industries in the physical market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
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