Mentha Oil On MCX Settled Down



Mentha oil on MCX settled down by -0.8% at 895.6 driven by subdued demand from consuming industries at spot market. Further, adequate stock positions on account of higher supplies from major growing regions of Chandausi in Uttar Pradesh, also influenced mentha oil prices. However downside seen limited in the anticipation that current year production can slip more that 35% due to lower plantings on falling prices in the last two years. 

As per market survey the total area under Mentha planting has dropped by 20% to 1.75 lakh ha this season resulting into a proportionate fall in Mentha oil production this year. Prices had significantly dropped since last 6months and prices traded in the range as demand from consuming industries is mute against steady arrival from spot market of Chandausi in Uttar Pradesh which is keeping prices within a range. Major buyers like China and Japan because of its economic slowdown have reduced their buying quantity of mentha and its product.

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