Mentha Oil Rate Today gains 0.11% on Apr 2 2024 3:50PM

Mentha Oil Rate Today 0.11% on Apr 2 2024 3:50PM. The Mentha oil futures contracts with expiry 28 Jun 2024 gained to ₹938.00. In the past 1 day, the Mentha oil rate on MCX has jumped 0.11% from ₹935.00 to ₹938.00.

Mentha oil is an essential oil obtained from a mint plant and India is one of the leading producers and exporters of mentha oil. Mentha oil is used in food, pharma, soaps, and other skincare/personal care products.

Mentha oil rate trades on commodity exchanges such as MCX, where traders can buy or sell Mentha oil contracts. Mentha oil is produced in different states of India such as Uttar Pradesh, Bihar, and Punjab.

Mentha oil rate remains quite volatile and Indian exporters have been exposed to this price volatility, said MCX India. MCX has liquid futures contracts for mentha oil rate - this can help traders hedge their bets, the exchange said on its site.

What are the factors that govern the Mentha oil rate?

Some international factors such as - demand from importing countries such as the US and China - drive the prices. Domestically, climate changes such as cold waves and untimely rains are some factors that drive the Mentha oil rate in the market. Mentha oil rate is also sensitive to the USD-INR rate due to the import-export equation.

Mentha oil stocks in MCX-accredited warehouses carry forward stocks, and stocks available with farmers are key indicators of supplies and influence prices, according to the MCX India website.

What are Mentha oil contract specifications?