Mentha oil prices rose by 0.83 per cent to Rs 1,777.60 per kg in futures trade today as participants increased their bets following rise in demand from consuming industries in the spot markets.
Moreover, tight stocks position on restricted supplies from major growing regions of Chandausi in Uttar Pradesh also supported the upside in mentha oil prices.
At the Multi Commodity Exchange, mentha oil for September was trading higher by Rs 14.70, or 0.83 per cent, to Rs 1,777.60 per kg with a business volume of 330 lots.
The oil for October climbed by Rs 14.20, or 0.79 per cent, to Rs 1,798.70 per kg with a trading volume of 44 lots.
Marketmen said widening of positions by traders following pick up in demand from consuming industries in the physical market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
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