Mentha Oil On MCX Settled Down By -1.64% At 1036.7

Mentha oil on MCX settled down by -1.64% at 1036.7 tracking weakness in spot demand amid profit booking. Further, higher supplies from major producing regions of Chandausi in Uttar Pradesh too weighed on mentha oil. Stock positions of mentha in MCX accredited warehouses were around 7879 drums which is same in comparison to previous day while in process were 3180 drums, which is 84 drums more against the previous day.

Arrivals are moderate in the major spot markets of Uttar Pradesh. As per the sources, the local demand for mentha from the traders and domestic consuming industries has slightly improved in comparison to previous days. Due to the improving Chinese economy, there is expectation of increase in export demand in coming days which is also giving support to the prices. The expectation of good production of mentha during the year has boosted the demand for natural mentha.

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