Mentha Oil On MCX Settled Down By -0.48% At 887

Mentha oil on MCX settled down by -0.48% at 887 as arrivals of the new crop, have started in the markets of Sambhal and Chandausi in Uttar Pradesh. About 100-120 drums in Sambhal and 70 drums in Chandausi (per day) of mentha oil have been arriving. Arrivals this season are about 20 days late than normal. The new crop of mentha oil is being sold at 975 and 1,010 rupees per kg in Chandausi and Sambhal, respectively, down about 50-70 rupees in the last two weeks.

The daily supply could rise to around 400 drums in the next two weeks. Expectations of higher output in 2017 will further dampen the sentiment moving ahead. Mentha output this year is likely to rise by 10-12% to 36,000 tn, as weather remained largely conducive throughout the season. Stock positions of mentha in MCX accredited warehouses were around 4674 drums which is 48 drums more against the previous day while in process were 408 drums, which is also 48 drums more against the last day.

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