Mentha oil prices climbed 3.19 per cent to Rs 1,251.50 per kg in futures market today as speculators raised their bets amid strong demand from consuming industries in the domestic spot market.
Furthermore, tight stocks position on restricted supplies from Chandausi in Uttar Pradesh too supported the upside in prices.
At the Multi Commodity Exchange, mentha oil for delivery in far-month May shot up by Rs 38.70, or 3.19 per cent to Rs 1,251.50 per kg in business turnover of 24 lots.
Similarly, the oil for delivery in April was trading higher by Rs 41.40, or 3.14 per cent to Rs 1,359.90 per kg in 323 lots.
Marketmen said widening of positions by traders, driven by upsurge in demand from consuming industries in the physical market against restricted supplies from Chandausi, led to the rise in mentha oil prices at futures trade.
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