Mentha oil prices surge 2.59% on higher demand

Mentha oil prices surged 2.59 per cent to Rs 1,569.80 per kg in futures market today after participants raised bets on increase in demand from consuming industries against restricted arrivals from the producing belts.

At the Multi Commodity Exchange, mentha oil for delivery this month's contract rose Rs 39.60, or 2.59 per cent, to Rs 1,569.80 per kg, clocking a business volume of 213 lots.

The oil for August delivery traded higher by Rs 35.70, or 2.29 per cent, at Rs 1,591.50 per kg with a trading volume of 493 lots.

Marketmen said speculators raised bets following rising demand from consuming industries at the spot market against restricted supplies from Chandausi leading to the rise in mentha oil prices.