Mentha Oil On MCX Settled Up 0.78% At 991.5

Menthaoil on MCX settled up 0.78% at 991.5 amid pick-up in demand in the domestic spot market. Further, tight stocks due to fall in arrivals from Chandausi too led to the rise in mentha oil prices. However upside seen limited on speculation that the area under cultivation can increase this year resulting good production. 

Total production of mentha oil during the current season is 32,000-34,000 tonnes against preliminary estimates of around 40,000 tonnes. Unfavourable weather conditions during harvesting period led to the drop in 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.

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