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Journalism of Courage
Mentha oil prices hit four per cent upper limit and surged by Rs 30.80 at Rs 800.10 per kg in futures trade today on brisk buying by traders on the back of strong spot market cues.
Demand in physical markets pushed up in futures trading to hit the upper level-limit of four per cent set by the Multi Commodity Exchange.
On the Multi Commodity Exchange (MCX),mentha oil for April contract rose Rs 30.80 or 4 per cent to Rs 800.10 per kg,with a trading volume of 691 lots.
The oil for delivery in May rose by Rs 23.60 or 3.26 per cent to Rs 748 per kg,in a business volume of 1,151 lots,while June contract up Rs 22.50 or 3.21 per cent to Rs 722.60 per kg,in a business turnover of 448 lots.
Traders said,increased domestic and exports demand,pushed up the prices of mentha oil at the futures market.
They said restricted arrivals from Chandausi in Uttar Pradesh also influenced the trading sentiment to some extent.
