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Spot Mentha Continues To Remain Stable

25 Apr 2019 8:57 pm
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NEW DELHI (Commoditiescontrol) - Spot mentha oil prices continued to rule steady at key markets of Uttar Pradesh on Thursday amid demand-supply parity.

In the short term market may remain range-bound as weak buying from US and China is likely to be offset by emerging summer season demand and tightness in supply at the fag-end of the season.

However, medium to long term sentiments are still bearish amid better crop prospects for this season.

Mentha oil prices in Chandausi, Sambhal and Rampur quoted at Rs 1,620/kg, Rs 1,625 and Rs 1,610, respectively. While, at the Multi Commodity Exchange (MCX), mentha oil for delivery in May edged lower by Rs 1.70 or 0.12 percent at Rs 1,382 per kg.

Traders said that if the weather remains favourable throughout the growth stage, yield may rise considerably and production of mentha oil may get a further boost. The new crop of mentha oil is likely to hit markets by June.

Production of mentha oil is expected to rise to 48,000-50,000 tonnes in 2019 from 33,000-35,000 tonnes last year, market participants said. This season, the area under mint is expected to be 250,000-265,000 hectares.

(By Commoditiescontrol Bureau)

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