Menthaoil On MCX Settled Down -0.16% At 1025.5



Menthaoil on MCX settled down -0.16% at 1025.5 amid fall in demand from in the domestic spot market. Further, ample stocks position on higher supplies from producing belts of Chandausi in Uttar Pradesh, too influenced mentha oil prices. Mentha oil dropped on the speculation the area under cultivation can increase this year resulting good production. On the demand side, the seasonal demand emerges during winter season, especially from the pharma sector. 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.

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