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Mentha oil prices rose further by 0.38% to Rs 880 per kg in futures market today as speculators enlarged positions, driven by rising demand from consuming industries in the spot market.
Besides, tight stocks position in the physical market due to less arrivals from Chandausi in Uttar Pradesh further supported the upswing.
At the Multi Commodity Exchange, mentha oil for delivery in January rose further by Rs 3.30, or 0.38% to Rs 880 per kg in business turnover of 37 lots.
Similarly, oil for delivery in December gained Rs 2.70, or 0.31% to Rs 867.50 per kg in 254 lots.
Analysts said speculators enlarged positions on the back of rising demand from consuming industries in the spot market against tight stocks position following less arrivals from producing regions, mainly led an upward trend in mentha oil at futures trade.
