The August contract of mentha oil rose on the MCX because of concerns over damage to the fresh mentha crop after heavy rains in Uttar Pradesh, the largest producer. Firm demand for the spice oil from the pharmaceutical industry also supported the prices. A fall in the inventories of the spice oil at the MCX-accredited warehouses aided the gains. Stocks of mentha oil at the warehouses declined to 1,883.24 tn Wednesday, down 34.92 tn from Tuesday.
Source: Newswire
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