Mentha Oil On MCX Settled Down By -2.32% At 1134.4

Mentha oil on MCX settled down by -2.32% at 1134.4 tracking weakness in spot demand on profit booking after prices gained amid lower arrivals. 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. Arrivals of mentha oil in the major physical market dropped due to heavy rainfall in some parts of the country.

Prices also remained supported on speculation of stock damages due to water logging in the states. Meanwhile, demand for mentha oil is robust from stockists as well as mentha consuming industries. 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.

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