On Thursday Best Commodity Tips Provider, prices of Mentha Oil were showing heaviness on the domestic futures market. Morning contracts of Mentha Oil on the commodity exchange MCX rose by Rs 3.50 or 0.16 percent to Rs. 1610.90 per kilogram on around 10.45 am.
According to Rudra Investment SEBI Registered Investment Advisor, sowing of mentha in the producing areas has increased. The area of Mentha is estimated to be 30-40 percent more this year.
Mentha Oil's march contract on MCX is advised to sell. In today's business, we should sell at a price of Rs 1620. In two sessions, price may drop to Rs 1580 per kg.
The main cultivating areas of Mentha cultivation, Rampur, Sambhal and Chandausi, are expected to double the cultivation of mentha. In addition, in Mentha's major farming district, Barabanki, this year, sowing area of Mentha is expected to increase 20%.
Mentha is the most used in cosmetics products as well as medicines, beauty products, toothpaste. India is the largest producer and exporter of the world. According to Best Commodity Tips Provider, the production was between 45,000-48,000 tonnes in the whole world last year, out of which India alone produced 30,000 tonnes.
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