Mentha Oil On MCX Settled Down By -0.99% At 1026.5

Mentha oil on MCX settled down by -0.99% at 1026.5 tracking muted demand from consuming industries at the spot market. Further, higher supplies from major producing belts of Chandausi in Uttar Pradesh also fuelled the downtrend. Pressure also seen on prices on the speculation the area under cultivation can increase this year resulting good production. China and Japan have reduced their buying quantity in the recent past due to the economic slowdown had impacted Mint product's exports which declined substantially from the export basket by 18% in terms of volume and 4% in terms of value year-on-year. Exports of mint products stood at 21,150 tonne in FY16 valued at RS. 2,577.59 crore against 25,750 tonne valued at RS. 2,689.25 crore in FY15.

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