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Mentha oil gained for the fifth straight session by adding 0.51% to Rs 875 per kg in futures market today as speculators enlarged their holdings on upsurge in demand from consuming industries in the spot market.
Tight stocks position in the physical market due to lower arrivals from Chandausi in Uttar Pradesh also supported the upswing.
At the Multi Commodity Exchange, mentha oil for delivery in November moved up by Rs 4.40, or 0.51%, to Rs 875 per kg in business turnover of 334 lots.
Similarly, the oil for delivery in December traded higher by Rs 4.40, or 0.50%, to Rs 887.40 per kg in 58 lots.
Analysts said speculators enlarged their positions on upsurge in demand from consuming industries in the spot market amid lower arrivals from Chandausi in Uttar Pradesh mainly kept mentha oil prices remain higher for the fifth day at futures trade.
