MCX Settled Up By 0.98% At 905.3

MCX settled up by 0.98% at 905.3 amid increase in physical demand from major consuming industries in the domestic spot market. 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. 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.

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