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Snapping its three-day losing streak, mentha oil prices rose 0.48% to Rs 861 per kg in futures trade today as speculators created fresh positions on the back of increased demand from consuming industries in the spot market.
Besides, tight supplies in the physical market following less arrivals from Chandausi in Uttar Pradesh supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in September rose by Rs 4.10, or 0.48% to Rs 861 per kg in business turnover of 149 lots.
Likewise, the oil for delivery in October gained Rs 3.90, or 0.45% to Rs 875.40 per kg in 34 lots.
Market analysts said fresh positions created by speculators on increased demand from consuming industries in the spot market amid lower arrivals from producing belts mainly influenced mentha oil prices at futures trade.
