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Mentha oil prices rose by 0.34% to Rs 845 per kg in futures trading today as speculators created fresh positions, driven by rising demand from consuming industries in spot markets.
Further, tight stocks position in the physical market following less arrivals from producing region also supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in February rose by Rs 2.90, or 0.34%, to Rs 845 per kg in business turnover of 10 lots.
Similarly, the oil for January gained Rs 1.40, or 0.17%, to Rs 833.40 per kg in 56 lots.
Analysts said speculators created fresh positions driven by rising demand from consuming industries in the spot market against less arrivals from Chandausi in Uttar Pradesh that led to rise in mentha oil prices at futures trade.
