Mentha oil futures feel the squeeze, drop 1% Read
MCX mentha futures were down by Rs 12.70, or 0.82 per cent, at Rs 1,539.90 at around 11.26 am.
The price of the commodity has risen over 20 per cent during the past two months. According to Motilal Oswal Commodities, spot markets are witnessing strong consumption demand amid restricted supplies. Bumper crop harvest has been discounted in the market, which is moving upwards on rising demand from end users.
There could be chances of crop damage to a certain extent due to unfavourable weather conditions, the brokerage house said.
An essential oil, mentha is extracted from herb Mentha arvensis through distillation. It is widely used in food and flavourings.
The oil in the crude form is made free of moisture by treatment with dehydrating agents like sodium sulphate, filtered and stored in air tight containers, preferably made up of aluminium or galvanised iron.
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