Mentha Oil On MCX Settled Down By -1.29% At 962.3

Mentha oil on MCX settled down by -1.29% at 962.3 due to profit booking driven by sluggish demand from consuming industries in the spot markets. Besides, ample stocks position on increased supplies from producing belts also put pressure on mentha oil prices. Sudden spurt in the prices of mentha oil would raise cost of production for consumers industries which may prompt producers to revise prices of their final product upwards. Interestingly, however, mentha oil being a small component of entire basket of raw materials, its consumer industries might absorb price rise for some time.

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