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Mentha oil futures trade higher on pick-up in demand

Mentha oil futures traded higher on MCX as speculators enlarged their positions amid pick-up in demand from consuming industries at domestic spot market. Besides, restricted supplies from major producing belts of Chandausi in Uttar Pradesh too supported mentha oil. Furthermore, due to heavy rainfall there is expectation of damage to the new stock which is also giving support to the mentha oil prices.

The contract for July delivery was trading at Rs 987.90, up by 1.25% or Rs 12.20 from its previous closing of Rs 975.70. The open interest of the contract stood at 2360 lots.

The contract for August delivery was trading at Rs 999.90, up by 1.41% or Rs 13.90 from its previous closing of Rs 986.00. The open interest of the contract stood at 2788 lots on MCX.

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