Menthaoil Trading Range For The Day Is 1113.1-1181.5.



On MCX settled up 2.29% at 1150.7 on rise in demand from the consuming industries at the spot market. Further, restricted supplies from the major producing belts of Chandausi in Uttar Pradesh too supported mentha oil prices’ uptrend. Anticipation of bumper crop harvest and nearing of harvesting season also weighing on prices. As per preliminary estimates, acreage under mentha crop will rise this year as the farmers are encouraged by higher price in recent past.

As per trade sources, all the major markets are likely to witness higher inflow of the produce in the month of May. There could be chances of crop damage to certain extend due to unfavourable weather condition. Besides, farmers are likely to hold back the stocks as the present prices are not remunerative for them. However, in recent years, the growth in production and consumption of synthetic mentha has influenced the demand for natural mentha.

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