New Delhi, Apr 16 (PTI) Mentha oil prices gained 0.84 per cent to Rs 1,419.60 per kg in futures market today as speculators raised their bets amid surging demand from consuming industries in the domestic spot market.
Besides, tight stocks position on fall in supplies from major growing regions of Chandausi in Uttar Pradesh, fuelled the uptrend in mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in April rose by Rs 11.80, or 0.84 per cent, to Rs 1,419.60 per kg in business turnover of 108 lots.
Similarly, the oil for delivery in May contracts was trading higher by Rs 9.50, or 0.74 per cent, at Rs 1,295 per kg in 28 lots.
Marketmen said widening of positions by participants, driven by soaring demand from consuming industries in the physical market against restricted supplies from Chandausi, led to the rise in mentha oil prices.
This is published unedited from the PTI feed.