Mentha Oil On MCX Settled Up By 0.7% At 874.2



Mentha oil on MCX settled up by 0.7% at 874.2 amid pickup in demand from consuming industries at domestic spot market. Besides, restricted supplies from major producing belts of Chandausi in Uttar Pradesh also added support to mentha oil prices uptrend. China and Japan have reduced their buying quantity in the recent past due to the economic slowdown had impacted Mint product's exports which 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 RS. 2,689.25 crore in FY15. 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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