MUMBAI (Commodity Online): Slight weak trend prevailed for Mentha Oil as low demand pressurized the prices. Short covering in the futures market at the low rates provided some support to the rates however. There are reports that traders are waiting for dips to make fresh purchases in the markets. Falling export demand from EU and US have been keeping sentiments bearish in the mandis.

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High carryover stock and reports of increased acreage have also been keeping sentiments weak in the short term.

Clearer skies had enabled increased arrivals in the mandis. Some improved demand from pharmaceutical Industries has been noted.

As per Spice Board of India, exports of Mint products during Apr-Dec 2009 are down to 12875 tonnes vs 15950 tonnes same period previous year.

Courtesy: Religare Commodities

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