Mentha oil prices rose by 0.58% to Rs 1,101 per kg in futures trade today as speculators enlarged positions, taking positive cues from spot market on rising demand.
Besides, tight stocks position in the market on restricted arrivals from Chandausi in Uttar Pradesh due to lower production this season supported the upside.
At Multi Commodity Exchange, mentha oil for delivery in July gained Rs 6.40, or 0.58% to Rs 1,101.00 per kg in a business turnover of 496 lots.
Likewise, the metal for delivery in August contracts traded higher by Rs 5.50, or 0.50% to Rs 1,116.00 per kg in 147 lots.
Marketmen said speculators enlarged positions on the back of rising demand from consuming industries at the spot market against restricted arrivals from producing belts, which mainly kept mentha oil prices higher in futures trade.
