MUMBAI (Commodity Online): Mentha Oil futures at India’s Multi Commodity Exchange which gained 2.68% last week to Rs 1208.20 per kg level has continued to climb on Monday trading supported by firm spot market demand.
The spot prices of mentha oil in Sambhal mandi in the state of Uttar Pradesh, quoting at Rs 1,392, up Rs 30 per kg. Meanwhile, the commodity trading at Rs 1392, up Rs 32 in the Chandausi mandi. The total arrivals jumped to 300-350 drums from 150 drums. China is the largest importer of mentha oil and recent positive economic data has provided firm support for prices. The main mentha producing states are UP and Bihar. Himachal Pradesh, Jammu and Punjab also contribute in production but in low quantity.
Mentha Oil is used in medicines related to seasonal diseases like cough and cold, stomach pain and also used in tooth-pastes, soaps and detergent powder. Moreover, it is also used in toffee, Paan, Guttka, perfumes etc. China is the biggest importer of mentha oil and they market it after processing it further.