Rising for the second day, mentha oil prices advanced by 0.12 per cent to Rs 1,005.50 per kg in futures market today as participants engaged in widening their bets, driven by rising demand in the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in March edged up by Rs 1.20, or 0.12 per cent, to Rs 1,005.50 per kg in a business turnover of 92 lots.
Similarly, the oil for delivery in April traded higher by Rs 1.10, or 0.11 per cent to Rs 1,015 per kg in 9 lots.
Market analysts said, widening of position by traders following increased demand from consuming industries in the spot markets against tight stocks position on fall in arrivals from Chandausi in Uttar Pradesh, mainly held mentha prices up.
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