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Mentha oil prices were up by 0.23% to Rs 686 per kg in futures trading today as speculators created fresh positions, tracking a firming trend at spot market on increased demand from consuming industries.
Besides, tight stock position in the physical market on restricted arrivals from producing regions further fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in September rose by Rs 1.60, or 0.23% to Rs 686 per kg in business turnover of 351 lots.
Oil for delivery in October traded higher by the same margin to Rs 697.90 per kg in 51 lots.
Market Analysts said fresh positions built up by speculators following increased demand from consuming industries in the spot market against less arrivals from Chandausi in Uttar Pradesh, led to the rise in mentha oil prices at futures trade.
