NEW DELHI, May 9: Mentha oil prices rose 1.44 per cent to Rs 1,390 per kg in futures market today as speculators raised their bets amid pick up in industrial demand at the domestic spot market.
Tight stocks position on restricted supplies from major growing regions of Chandausi in Uttar Pradesh also supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery this month rose Rs 19.70, or 1.44 per cent, to Rs 1,390 per kg, clocking a business volume of 162 lots.
The oil for June month delivery traded Rs 10.70, or 0.90 per cent, higher at Rs 1,205 per kg, with a trading volume of 50 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. (PTI)
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