Menthaoil On MCX Settled Down -0.46% At 998.5

Menthaoil on MCX settled down -0.46% at 998.5 amid muted demand in the domestic spot market. Further, ample stocks position on higher supplies from major producing belts, too influenced mentha oil prices. Pressure seen on prices on the speculation the area under cultivation can incerese 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.

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