Mentha Oil In MCX Settled Down

Mentha oil on MCX settled down by -1.98% at 857.8 driven by sluggish demand from consuming industries in the spot market. Further, rising arrivals from major producing regions of Chandausi in Uttar Pradesh also weighed on mentha oil prices. Sentiments still remain weak as this season the farmers are seen getting more interested in sowing mentha in the major growing area of Barabanki. Markets had remained weak for quite sometime from lack of demand amidst reports of higher sowing activities. 

The preliminary mandi source suggests that production of menthol is likely to be around 34-35000 tonnes during 2016-17 as compared to 32000 tonnes in 2015-16. While some sources estimate that total area under Mentha planting has dropped by 25% to 1.70 lakh ha this season resulting into a proportionate fall in Mentha oil production this year.

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