Mentha oil on MCX settled down -0.13% at 994.5 amid of reports that carryover stocks are huge against the current consumption level, while the stocks is also been sufficient. Short term outlook remain weak as first of all prices are trading below 1000 level mark while the huge carryover stock of mentha oil and also prices trading with weakness leading to a glut with synthetic mint oil garnering larger share of the market.

Trading Ideas: 

* Mentha oil trading range for the day is 984.1-1003.5. 

* Mentha oil spot at Sambhal closed at 1125.50 per 1kg. Spot prices was down by Rs.-8.50/-. 

* Mentha oil dropped amid of reports that carryover stocks are huge against the current consumption level. 

* Also prices trading with weakness leading to a glut with synthetic mint oil garnering larger share of the market. 

* Trade sources estimate that total area under Mentha planting has dropped by 20% to 1.75 lakh ha this season.

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