With the winter season about to pick up and the consequent growing demand, mentha oil prices have also recovered. The possibility of demand for exports is also keeping the prices bullish.At the National Commodity & Derivatives Exchange (Ncdex), the price of mentha oil futures for December delivery had fallen from Rs 682 a kg on October 30 to Rs 590 on November 11. But the price has again jumped to Rs 685 on Wednesday. Mentha oil price for January delivery has also recovered from Rs 600 a kg on November 11 to Rs 683 on Wednesday. At the Chandausi spot market, mentha oil is trading at Rs 700 a kg.There is no shortage of mentha oil this year. In fact, the trade estimates put this year's production at 25,000 tonne, significantly higher than the last year's 18,000 tonne. The warehouses of Multi Commodity Exchange (MCX) and Ncdex have 1,500 tonne and 1,000 tonne of mentha oil, respectively.Better prices of mentha last year had brought more area under its cultivation this time. However, the wholesale traders are not willing to take out their stocks in the expectation of higher prices, said an analyst with Karvy Commodities. This year, China is expected to import mentha oil from India, owing to lower output there.During winter, the demand normally goes up, as there is increase in buying from the pharmaceuticals industry. By December, the price is expected to touch Rs 800 a kg, the analyst added.
