Mentha Oil On MCX Settled Down By -1.57% At 923.7


Mentha oil on MCX settled down by -1.57% at 923.7 on profit booking after prices gained amid reports of crop damage in major plant growing regions including Uttar Pradesh. Currently, mentha crop is been harvested and reports of heavy rainfall in the major growing areas in Uttar Pradesh affected arrivals resulting into fear of crop damage for October harvest. 

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. As per latest reports Mentha Oil export in 2014-15 has surpassed targeted 21000 tons by 23% at 25750 tons. Export in 2013-14 was 24500 tons. Higher carryover stocks and lack of strong demand have prevented strong upside movement till now.

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1 comments:

Heena Khan said...

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