Mentha Oil Settled Flat Amid Subdued Demand

Mentha oil settled flat amid subdued demand from consuming industries against ample stock in the spot markets. Further, lower quality arrivals from the major producing belts leading to lack of export demand too kept prices lower. Lack of strong demand enabled prices to come down for Mentha Oil as traders waited for some more dips before initiating fresh demand in mandis. Reports of lower quality arrivals leading to lack of export demand too kept trend sideways. Traders said that the day-to-day consumption of menthol declined from 200 drums to 100-120 drums in present term. Prospects of cooler winter – especially in North and North-West India could lead to possibilities of a higher demand – especially from the pharmaceutical Industries. Falling Rupee could add further to the export demand.

At Rampur market total arrivals are at 5 Drums(1-drum=180kg), lower by 2 Drums(1-drum=180kg) as against previous day. At Chandausi market sources reported arrivals at 20 Drums(1-drum-180kg), down by 5 Drums(1-drum-180kg) as against previous day. In fact, huge carryover stocks from the previous year coupled with huge capacity built up of synthetic mint, a substitute of mentha oil, also discouraged farmers to bring less area under mentha plant this year. 

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