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Spot Mentha Prices Remain Steady

22 Jan 2020 8:13 pm
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NEW DELHI (Commoditiescontrol) - Spot mentha oil prices ruled mostly steady at key markets of Uttar Pradesh on Wednesday as seasonal demand offset supply pressure.

Mentha oil prices in Chandausi, Sambhal and Rampur quoted at Rs 1,350/kg, Rs 1,370/kg and Rs 1,330/kg, respectively.

At the Multi Commodity Exchange (MCX), mentha oil contract for delivery in January ended lower by Rs 3.70 or 0.30 percent at Rs 1,231.80 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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