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Extending gains for the second straight day, mentha oil prices rose further by 0.97 per cent to Rs 928.40 per kg in futures trade today as speculators indulged in enlarging positions, taking positive from spot market on rising demand from consuming industries.
Further, restricted supplies from Chandausi in Uttar Pradesh too fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in May month advanced by Rs 8.90, or 0.97 per cent to Rs 928.40 per kg in business turnover of 400 lots.
Similarly, the oil for delivery in June contracts gained Rs 8.50, or 0.91 per cent to Rs 942.60 per kg in 80 lots.
Analysts said apart from rising demand from consuming industries in the spot market, restricted arrivals from producing Chandausi in Uttar Pradesh mainly kept mentha oil prices higher at futures trade.
