NEW DELHI, Jan 8: Mentha oil moved up by 0.46 per cent to Rs 842 per kg in futures market today after speculators built up fresh positions driven by a rise in demand from consuming industries in spot markets.
Further, tight stocks position in the physical market following restricted arrivals from producing region also supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in February moved up by Rs 3.90, or 0.46 per cent, to Rs 842 per kg in a business turnover of 27 lots.
Similarly, oil for delivery in January traded higher by Rs 3.50, or 0.42 per cent, to Rs 830.60 per kg in 197 lots.
Analysts said speculators created fresh positions on the back of a rise in demand from consuming industries in the spot market against restricted supplies from Chandausi in Uttar Pradesh that led to rise in mentha oil prices at futures trade. (AGENCIES)
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