Mentha oil settled up by 1.54% at 963.6 as rising demand amidst lower arrivals supported the prices. Sources indicate rates have fallen to low levels over last few weeks and further fall may be limited as domestic and export demand rise. Further, restricted supplies from Chandausi in Uttar Pradesh too supported mentha oil prices uptrend. At Sambhal market total arrivals are at 100 Drums(1-drum=180kg), steady as against previous day’s arrival. At Barabanki market sources reported arrivals at 300 Drums(1-drum-180kg), unchanged as compared to previous day’s arrival. At Rampur market estimated market supply was at 7 Drums(1-drum=180kg), higher by 2 Drums(1-drum=180kg) from previous day’s arrivals.
Menthaoil trading range for the day is 934.7-981.3.
Mentha oil spot at Sambhal closed at 1073.70 per 1kg. Spot prices is up by Rs.8.50/-.
Mentha oil prices ended with gains as rising demand amidst lower arrivals supported the prices.
Further, restricted supplies from Chandausi in Uttar Pradesh too supported mentha oil prices uptrend.
Total area under mentha planting reported a decline of 20% to 1.75 lakh ha this season resulting into a proportionate fall in mentha oil production.
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