Menthaoil On MCX Settled Down -0.19% At 927.3

Menthaoil on MCX settled down -0.19% at 927.3 amid a fall in physical demand from major consuming industries in the domestic spot market. 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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