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Mentha oil extended gains for the second straight day with prices rising by 0.24% to Rs 952.70 per kg in futures trading today as speculators enlarged their positions driven by rising demand in the spot market.
Besides restricted arrivals from Chandausi in Uttar Pradesh further fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in October added Rs 2.30, or 0.24% to Rs 952.70 per kg in business turnover of 66 lots.
The September contract edged up by Rs 1.30, or 0.14% to Rs 937 per kg in 300 lots.
Market analysts said speculators enlarged their positions, driven by a rising demand in the spot market against restricted arrivals from Chandausi in Uttar Pradesh mainly influenced mentha oil prices at futures trade.
