Mentha oil prices surged 0.93 per cent to Rs 1,585 per kg in futures market today after participants raised their bets on rise in demand from consuming industries.
Besides, tight stocks position on restricted supplies from major growing regions of Chandausi in Uttar Pradesh also supported prices.
At the Multi Commodity Exchange, mentha oil for delivery in September rose Rs 14.60, or 0.93 per cent, to Rs 1,585 per kg, clocking a business volume of 32 lots.
The oil for this month traded higher by Rs 11.60, or 0.76 per cent up, at Rs 1,542 per kg with a trading volume of 143 lots.
Marketmen said speculators raised bets following pick up in demand from consuming industries at the spot market against restricted supplies from Chandausi, leading to the rise in the prices.
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