Mentha Oil On MCX Settled Down By -0.71% At 1161.4



Mentha oil on MCX settled down by -0.71% at 1161.4 on profit booking driven by decline in demand from consuming industries at the spot markets. Further, ample stocks position on higher supplies from Chandausi in Uttar Pradesh too pulled down mentha oil prices. However, in recent days arrivals has increased which is limiting the upside movement of the prices. Stock positions of mentha in MCX accredited warehouses were around 10366 drums which is 96 drums less in comparison to previous day while in process were 1140 drums, which is 108 drums more against the previous day.

According to the government data, during the initial four months of 2017, the export of mentha oil has increased by 54% to 757 tons compared to 490 tons last year. During the initial four months of 2017, the export of mentha oil has increased by 54% to 757 tonnes compared to 490 tonnes last year. Expectations of higher output in 2017 will further dampen the sentiment moving ahead.

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