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Mentha oil prices shot up by 1.37% to Rs 703.50 per kg in futures market today as speculators enlarged positions amid upsurge in demand from consuming industries in the spot market.
Besides, export enquiries against tight supplies from producing regions, supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in October jumped by Rs 9.50, or 1.37%, to Rs 703.50 per kg in a business turnover of 697 lots.
Similarly, the oil for delivery in November traded higher by Rs 9.50, or 1.35%, to Rs 712.50 per kg in 101 lots.
Market analysts attributed the rise in mentha oil futures to rising demand from consuming industries in the spot market against tight supplies from Chandausi in Uttar Pradesh.
