 "Mentha oil extend gains, up 0.9% on strong demand")
Mentha oil extended gains for the second day with prices rising further by Rs 8.80 to Rs 931.90 per kg in futures trading today as speculators enlarged positions amid a firm trend at spot market.
Besides, tight stocks position in the physical market on restricted arrivals from Chandausi in Uttar Pradesh and some export enquiries further fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in July month rose by Rs 8.80, or 0.95%, to Rs 931.90 per kg in business turnover of 428 lots.
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Similarly, the oil for delivery in August traded higher by Rs 7.30, or 0.78%, to Rs 943.70 per kg in 89 lots.
Market analysts said the rise in mentha oil at futures trade was mostly on the back of a firm trend at spot market on rising demand from consumer industries against lower arrivals from Chandausi in Uttar Pradesh.