Mentha Oil Prices Holding Below 900

Mentha oil prices holding below 900 level remains weak as demand is weak ahead of GST as traders are avoiding fresh buying from market. Further, tight stocks position on restricted supplies from producing regions, too supported mentha oil prices. Stock positions of mentha in MCX accredited warehouses were around 4397 drums which is 1 drums less in comparison to previous day while in process were 3060 drums, which is 312 drums more against the previous day.

As per local sources, new crops are arriving in the physical market due to which supply is more in the spot market. On the demand side, local traders and domestic consuming industries are waiting for prices to decrease further due to which they are not buying in bulk quantity. In addition to this it is expected that this year production might increase around 15% which is also creating pressure on the mentha prices.

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