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Extending its rising streak for the fourth straight sessions, mentha oil prices advanced by 0.48% to Rs 694.40 per kg in futures trade today as speculators enlarged positions amid rising demand in the spot market.
Besides, tight supplies from producing belts in the physical market and some export enquiries further fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in November gained Rs 3.30, or 0.48% to Rs 694.40 per kg in business turnover of 125 lots.
Similarly, the oil for delivery in current month is up by Rs 2.70, or 0.40% to Rs 684.40 per kg in 162 lots.
Market analysts said besides rising demand from consuming industries in the spot market, less arrivals from Chandausi in Uttar Pradesh, mainly led an upward movements in mentha oil prices at futures trade.
