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Mentha oil prices recovered by 0.45% to Rs 842.40 per kg in futures trade today, snapping its two-day falling streak, as speculators created fresh positions, supported by a rise in demand from consuming industries in the spot market.
Tight supply in the physical market from Chandausi in Uttar Pradesh further fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in October recovered by Rs 3.80, or 0.45%, to Rs 842.40 per kg in business turnover of 96 lots.
Similarly, the oil for delivery in November edged higher by Rs 2.90, or 0.34%, to Rs 854 per kg in 68 lots.
Marketmen attributed the rise in mentha oil in futures trade to fresh positions created by speculators on rise in demand from consuming industries in the spot market against restricted arrivals from Chandausi in Uttar Pradesh.
Some export enquiries also influenced the mentha oil prices, they said.
