Continuing its rising streak for the second day, mentha oil prices rose further by 0.76 per cent to Rs 995 per kg in futures trading today as traders engaged in widening their positions, driven by a strong demand from consuming industries at the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in January rose by Rs 7.50, or 0.76 per cent to Rs 995 per kg in a business turnover of 73 lots.
On similar lines, the oil for delivery in December gained Rs 6.80, or 0.69 per cent to Rs 985.30 per kg in 275 lots.
Analysts said, widening of positions by participants owing to rising demand from consuming industries in the spot markets against tight stocks position on fall in supplies from Chandausi, kept mentha oil prices higher at futures trade.
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