Mentha oil prices up 1.06 pc on higher demand

Mentha oil prices surged 1.06 per cent to Rs 1,285.90 per kg in futures market today after participants raised bets on rise in demand from consuming industries against restricted arrivals from the producing belts.

At the Multi Commodity Exchange, mentha oil for delivery in May contract rose Rs 13.50, or 1.06 per cent, to Rs 1,285.90 per kg, clocking a business volume of 281 lots.

The oil for this month delivery traded higher by Rs 10.40, or 0.69 per cent up, at Rs 1,510 per kg with a trading volume of 39 lots.

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