Mentha Oil On MCX Settled Up

Mentha oil on MCX settled up by 0.96% at 803.1 tracking rising demand from consuming industries at the spot market. Further, restricted supplies from major producing regions of Chandausi in Uttar Pradesh also supported mentha oil. Prices also seen supported 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.

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