Mentha Oil On MCX Settled Down By -0.08% At 1044.1

Mentha oil on MCX settled down by -0.08% at 1044.1 taking negative cues from spot market on subdued demand. Besides, ample stocks position on higher supplies from producing belts of Chandausi in Uttar Pradesh, too added pressure on mentha oil prices. Mentha oil dropped on the speculation the area under cultivation can increase this year resulting good production. Sources mentioned that nearly 14500 MT of mint products were exported in six months of the current financial year. This implies that export demand for the complete financial year can be between 27000 and 29000 MT quite cheaper, versus 23000 of total exports last year. Farmers are keeping most of the stocks in their hands. Most buyers are willing to buy at these levels.

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