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Mentha oil prices moved up by 0.62% to Rs 921 per kg in futures trade today as traders created fresh positions, driven by a rise in demand from consuming industries in the spot market.
Tight stocks availability in the physical market on less arrivals from producing area of Chandausi in Uttar Pradesh further supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in July rose by Rs 5.70, or 0.62%, to Rs 921 per kg in business turnover of 204 lots.
Similarly, the oil prices for delivery in August moved up by Rs 5.60, or 0.60%, to Rs 934.50 per kg in 36 lots.
Market analysts said speculators created fresh positions, driven by a rise in demand from consuming industries in the spot market against restricted arrivals from Chandausi in Uttar Pradesh, mainly led to the rise in mentha oil prices at futures trade.
