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Mentha oil remained up for the second straight day and prices rose 0.56% to Rs 876 per kg in futures trade today as speculators enlarged their positions on higher demand from consuming industries in the spot market.
Besides, lower arrivals from producing regions further fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in April moved up by Rs 4.90, or 0.56%, to Rs 876 per kg in a business turnover of 213 lots.
In a similar fashion, the oil for delivery in May traded higher by Rs 4.10, or 0.47%, to Rs 885.40 per kg in 32 lots.
Analysts said speculators enlarged positions on the back of higher demand from consuming industries against lower arrivals from Chandausi in Uttar Pradesh that mainly kept mentha oil prices up for the second day at futures trade.
