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Spot Mentha Weakens On Lacklustre Seasonal Demand

23 Jan 2020 7:38 pm
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NEW DELHI (Commoditiescontrol) - Spot mentha oil prices moved lower at key markets of Uttar Pradesh on Thursday as seasonal demand have started waning at the fag-end of the winter season.

Mentha oil prices in Chandausi, Sambhal and Rampur quoted at Rs 1,340/kg, Rs 1,360/kg and Rs 1,320/kg, respectively.

At the Multi Commodity Exchange (MCX), mentha oil contract for delivery in January ended lower by Rs 10 or 0.81 percent at Rs 1,219.50 per kg after moving in the range of Rs 1,240 and Rs 1,229.50 per kg.

Meanwhile, the market is optimistic about the new sowing season, which will commence next month. This is because farmers are getting good returns of almost double the cost of production. Also, there has been a shift in their preference from traditional crops to mentha due to attractive returns. Madhya Pradesh is one such state where farmers have started growing mentha. At present, new crop arrivals are coming from the state.

However, the crop being smaller than the traditional mentha-growing states -- Uttar Pradesh -- the impact on prices is negligible.


       
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