NEW DELHI, July 25: Mentha oil prices edged higher by 2.72 per cent at Rs 1,545.20 per kg in futures trade today after participants raised bets, taking positive cues from spot market on pickup in demand from consuming industries.
Furthermore, restricted supplies from the major producing belts of Chandausi in Uttar Pradesh too supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery this month was trading higher by Rs 40.90, or 2.72 per cent, to trade at Rs 1,545.20 per kg in a business turnover of 289 lots.
The oil for August delivery was up by Rs 40.40, or 2.64 per cent, at Rs 1,571 per kg with a trading volume of 433 lots.
Marketmen said raising of bets by speculators, driven by surging demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade. (PTI)
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