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Mentha oil prices advanced 0.49% to Rs 722.50 per kg in futures trading today as speculators enlarged positions, driven by increased demand from consuming industries in the spot market.
Tight stocks positions in the physical market following restricted arrivals from producing region also supported the upside.
At the Multi Commodity Exchange, mentha oil for delivery in January next year advanced by Rs 3.50, or 0.49% to Rs 722.50 per kg in business turnover of 22 lots.
Similarly, the oil for delivery in December contract moved up by Rs 3.10, or 0.44% to Rs 711.60 per kg in 128 lots.
Market analysts said apart from increased demand from consuming industries in the spot market, restricted arrivals from Chandausi in Uttar Pradesh mainly influenced mentha oil prices at futures trade.
