Mentha Oil On MCX Settled Down By -0.81% At 995.2



Mentha oil on MCX settled down by -0.81% at 995.2 on fresh selling after the speculation that sowing activity had been increased in key production area of UP after the delay due to on going Elections activity. The weather looked good and everything seemed fine as of now as farmers are still under stress, as they have already suffered a lot because of demonetization. As cash is the primary mode of transaction in agriculture sector which contributes 15% to India’s total output. 

Earlier it was estimated that total area under Mentha planting will drop by 20% to 1.75 lakh ha for this season resulting into a proportionate fall in Mentha oil production this year. While sentiments is improved after the report titled, "World Essential Oil Market - Opportunities and Forecasts, 2015 - 2022," the world essential oil market released last year which expects industry to reach $11.5 billion by 2022, with a CAGR of 10.1% from 2016 to 2022.

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