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Mentha oil prices surged by Rs 29.50 to Rs 1,065 a kg in futures trade today as speculators enlarged their positions on rise in demand in the spot market.
Restricted arrivals from producing region further fuelled the uptrend. At the Multi Commodity Exchange, mentha oil for April contract surged by Rs 29.50 or 2.85 per cent to Rs 1,065 a kg, with a business volume of a single lot.
Similarly, the oil for delivery in February contract shot up by Rs 23.40 or 2.19 per cent to Rs 1,090 a kg, with a business volume of one lot.
Market analysts said fresh positions created by speculators, driven by pick up in domestic and export demand, helped prices to trade higher.
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