Mentha Oil On MCX Settled Down By -2.42% At 829


Mentha oil on MCX settled down by -2.42% at 829 tracking weak demand from consuming industries at the spot market. Besides, rising arrivals from major producing belts of Chandausi in Uttar Pradesh also fuelled the downtrend. Sentiments still remain weak as this season the farmers are seen getting more interested in sowing mentha in the major growing area. 

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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