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Mentha oil prices extended gains for the second day by adding 0.18% to Rs 712.60 per kg in futures market today as speculators enlarged positions, supported by pick-up in demand in the spot market.
Further, tight stocks in the physical market due to restricted arrivals from producing regions fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in July added Rs 1.30, or 0.18%, to Rs 712.60 per kg in business turnover of 149 lots.
Similarly, the oil for delivery in August contract edged up by 30 paise, or 0.04% to Rs 726 per kg in 80 lots.
Market analysts said apart from rising demand from consuming industries in the spot market, limited arrivals from Chandausi in Uttar Pradesh, mainly influenced mentha oil prices at futures trade.
