Menthaoil Trading Range for the day is 860.9-879.7.

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Mentha oil on MCX settled up by 0.79% at 871.6 amid a surge in physical demand for mentha oil in the domestic spot market. Besides, insufficient stocks position on restricted supplies from producing regions also added support to mentha oil prices uptrend. 

China and Japan have reduced their buying quantity in the recent past due to the economic slowdown had impacted Mint product's exports which declined substantially from the export basket by 18% in terms of volume and 4% in terms of value year-on-year. Exports of mint products stood at 21,150 tonne in FY16 valued at RS. 2,577.59 crore against 25,750 tonne valued at RS. 2,689.25 crore in FY15.

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Initially, India’s mentha oil output was estimated to remain lower this year from 32,000 tonnes produced during last year. But, rainfalls later improved overall scenario that got worsened with scorching heat waves in May.

Trading Ideas:

Menthaoil trading range for the day is 860.9-879.7.
Mentha oil spot at Sambhal closed at 1006.30 per 1kg. Spot prices is up by Rs.0.80/-.

Mentha oil prices ended with gains amid a surge in physical demand for mentha oil in the domestic spot market.

Besides, insufficient stocks position on restricted supplies from producing regions also added support to prices.

India’s mentha oil output was estimated to remain lower this year from 32,000 tonnes produced during last year.


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