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Mentha oil prices rose by 0.28% to Rs 706 per kg in futures trading today as speculators enlarged their positions, tracking a firm trend at spot market on rising demand.
Further, tight supplies in the physical market following limited arrivals from producing belts fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in January next year gained Rs 2, or 0.28% to Rs 706 per kg in business turnover of 48 lots.
Likewise, the oil for delivery in December contract edged up by Rs 1.20, or 0.17%, to Rs 694.10 per kg in 141 lots.
Analysts said speculators enlarging positions due to rising demand from consuming industries in the spot market against restricted arrivals from Chandausi in Uttar Pradesh mainly kept mentha oil higher at futures trade.
