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Mentha oil gained 0.55% to Rs 826.50 per kg in futures trading today as speculators indulged in creating fresh positions, driven by strong domestic as well as export demand in the spot market.
Tight stocks position in the physical market due to less arrivals from Chandausi in Uttar Pradesh also supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in March gained Rs 4.50, or 0.55% to Rs 826.50 per kg in business turnover of 239 lots.
In a similar fashion, the oil for delivery in April traded higher by Rs 4.60, or 0.55% to Rs 836 per kg in 53 lots.
Analysts said fresh positions built-up by speculators due to strong domestic as well as export demand in the spot market amid lower arrivals from Chandausi in Uttar Pradesh mainly led to rise in mentha oil prices at futures trade.
