Menthaoil On MCX Settled Down -0.64% At 972.2

Menthaoil on MCX settled down -0.64% at 972.2 on profit booking driven by easing demand at the spot market. Further, ample stocks position on higher supplies from Chandausi in Uttar Pradesh, too weighed on 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. However, a pick up in sowing over last couple of weeks have ensured prices falling for the commodity, as low demand further pressurized market sentiments.

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