Mentha Oil On MCX Settled Down By -0.37% At 832.5

Mentha oil on MCX settled down by -0.37% at 832.5 tracking subdued demand from consuming industries in the domestic spot market. Besides, higher arrivals from major producing regions of Chandausi in Uttar Pradesh also influenced mentha oil. 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. However a pick up in sowing over last few weeks have ensured prices falling for the commodity, as low demand further pressurized market sentiments.

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