Mentha Oil On MCX Settled Up By 2.93% At 933

Mentha oil on MCX settled up by 2.93% at 933 amid surge in demand from major consuming industries in the domestic spot market. 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.

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