Mentha Oil On MCX Settled Up By 1.55% At 958.2

Mentha oil on MCX settled up by 1.55% at 958.2 amid rising demand in the domestic spot market. Further, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh, too supported mentha oil prices.

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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