Mentha Oil On MCX Settled Up By 1.7% At 1026.7

Mentha oil on MCX settled up by 1.7% at 1026.7 taking positive cues from spot market on surging demand. Further, tight stocks position on restricted supplies from Chandausi in Uttar Pradesh, too supported mentha oil prices. Traders anticipate pick up in domestic and export demand to support prices in coming days. Low arrivals amidst expected fall in acreage for sowing next year may spur prices further in coming days however. 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.

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