Mentha oil was trading higher by 1.23 per cent to Rs 1,655 per kg in futures market today after participants raised bets amid pick-up in demand from consuming industries.
Further, restricted supplies from the major producing belts of Chandausi in Uttar Pradesh, too, supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in the current month rose by Rs 20.10, or 1.23 per cent, to Rs 1,655 per kg with a trading volume of 583 lots.
The oil for September delivery was trading higher by Rs 19.20, or 1.14 per cent, to Rs 1,704 per kg with a trading volume of 76 lots.
Marketmen said, raising of bets by speculators, driven by surging demand from consuming industries at the spot market against restricted supplies from Chandausi led to the rise in mentha oil prices.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)