Mentha Oil On MCX Settled Down By -0.41% At 1038.2

Mentha oil on MCX settled down by -0.41% at 1038.2 driven by muted demand in the spot market. Further, ample stocks position on higher supplies from producing regions of Chandausi in Uttar Pradesh, too influenced mentha oil prices. Total production of mentha oil during the current season is 32,000-34,000 tonnes against preliminary estimates of around 40,000 tonnes, which was estimated in June 2016. Unfavourable weather conditions during harvesting period led to the drop in production.

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