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Mentha oil futures feel the squeeze, drop 1% Read

Mentha oil futures slipped 0.82 per cent in futures market on Wednesday.

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.

According to preliminary estimates, acreage under mentha crop will rise this year as farmers are encouraged by higher prices in the recent past. All the major markets, sources said, are likely to witness higher inflow of the produce.

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.

In addition, natural menthol has cooling and soothing effect on skin and mucous membrane of human body, making it a useful ingredient in pharmaceuticals and cosmetics industry.

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.

Mentha is normally sown in February and March and harvested in May and June.

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