Mentha Oil Edged Higher Driven

Mentha oil edged higher driven by rising demand from consuming industries at the spot market. Besides, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also added support to mentha oil prices uptrend. 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. Initially, India’s mentha oil output was estimated to remain lower this year from 32,000 tonnes produced during last year. But, rainfalls later improved overall scenario that got worsened with scorching heat waves in May. Hence, overall mentha oil output for 2016-17 is now revised upwards at 34,000 tonnes. Mint product exports have declined substantially from the export basket by 18% in terms of volume and 4% in terms of value year-on-year. Exports of mint products stood at 21,150 tonne in FY16 valued at Rs. 2,577.59 crore against 25,750 tonne valued at R2,689.25 crore in FY15.

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