Mentha Oil On MCX Settled Down

Mentha oil on MCX settled down by -0.44% at 865.2 tracking weak demand from consuming industries at the domestic spot market. Moreover, rising arrivals from major growing regions of Chandausi in Uttar Pradesh also weighed on prices. Traders had estimated earlier that the total production in the range of 35000-37000 tons for this year, and currently it appears that the average estimate might be reduced to 30000 tons due to lower plantings on falling prices in the last two years. Trade sources estimate that 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.

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