Mentha Oil On MCX Settled Up By 2.35% At 1046.2

Mentha oil on MCX settled up by 2.35% at 1046.2 on the back of strong demand in the spot markets amid hopes of export demand may pick up in the coming days. Besides, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also provided support to mentha oil prices. Trade sources estimate that total area under Mentha planting has dropped by 20% to 1.75 lakh ha this season resulting into a proportionate fall in Mentha oil production this year. As per latest reports Mentha Oil export in 2014 -15 has surpassed targeted 21000 tons by 23% at 25750 tons. Export in 2013-14 was 24500 tons.

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