Mentha oil prices were trading higher by 0.71 per cent to Rs 1,923.90 per kg in futures market today as speculators engaged in building up positions, amid pick-up in demand in domestic industries at the spot market. Besides, tight stock positions due to restricted arrivals from the major producing belts of Chandausi, gave support to mentha prices. In futures trading, at the Multi Commodity Exchange, mentha oil for delivery in current month rose Rs 13.60, or 0.71 per cent, to Rs 1,923.90 per kg, clocking a business volume of 1100 lots. The oil for January delivery rose by Rs 10.40, or 0.53 per cent up, at Rs 1,949.40 per kg, with a trading volume of 374 lots. Marketmen said raising of bets by speculators, driven by rising demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
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