Mentha is an aromatic herb that is also known as Japanese pudina. Through the process of steam distillation followed by filtration of dried mentha leaves results in mentha oil. Further processing of this produces methanol and other substances. Mentha oil and other derivatives are widely used in pharmaceutical, perfumery, good and flavouring industries. The mentha plant was first introduced in between the years 1958 and 1964. India was producing 6,000 tonnes of oil by 1996, which exceeded 45,000 tonnes in 2013. The increase in the production of mentha oil rate started after 2004, and currently, India is the biggest producer and exporter of mentha oil. India cultivates eight strains of mentha, 3 of which are exported. Mentha oil price is currently hovering around INR 1204 per kg.
Despite this, the mentha oil price has always been extremely prone to change. Since India emerged as its primary producer, the exporters have been subject to its inconsistent pricing. The chain participants of this trade are able to contain this price risk due to the availability of liquid futures contract on MCX.
Factors Influencing Prices
A variety of factors influence the mentha oil rate. International factors which affect the mentha oil prices are import demand of major buyers like China, Singapore and the US, the dollar-rupee rate and the pricing of synthetic oil in the market. Production related domestic factors are increase or decrease in crop production, which depends on the climate during sowing, and the profit gleaned in the previous harvest. The domestic demands by various pharmaceutical companies for mentha oil rise in winters. The availability of mentha oil stocks in various forms is also an indicator of prices.
India exports various types of mentha oil to countries like Singapore, Japan, France, the US and China. The major export varieties of mentha oil are Japanese mint oil, peppermint oil, de-mentholized Japanese mint oil, spearmint, water mint oil, horsemint oil and Bergemonl oil.
Mentha oil is an essential oil that is vastly used in food items and as a flavouring substance. In addition to that, mentha oil also has cooling properties and soothes the mucous membrane and skin. This is why it is also used widely in the pharmaceutical and cosmetic industry. The trading session for mentha oil is from Mondays to Fridays,9.00 am to 5.00 pm. The trading unit is 360 kgs, and the maximum order size is 18000 kgs. The mentha oil rates displayed online are fairly up to date and reliable. You should check the mentha oil rate today before buying it in bulk.