Mentha oil prices surged 1.98 per cent to Rs 1,288.50 per kg in futures market today after participants raised bets on rise in demand from consuming industries at the spot market against restricted arrivals from producing regions.
At the Multi Commodity Exchange, mentha oil for delivery in May was higher by Rs 25, or 1.98 per cent, to Rs 1,288.50 per kg, clocking a business volume of 274 lots.
The oil for current month delivery was trading higher by Rs 14.60, or 0.98 per cent to Rs 1,507.90 per kg, with a trading volume of 64 lots.
Marketmen said raising of bets by speculators, driven by rising demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)