Live Mentha Oil Mini Prices
Disclaimer – Live prices displayed here are for informational purposes only. We cannot guarantee accuracy. Please do your own research before making any financial decisions.
MCX Mentha Oil Price Today: Current Market Updates and Trading Insights
Mentha oil is an essential oil. It is produced from the leaves of the Mentha arvensis plant, commonly known as mint or field mint. It is extracted by the steam distillation of the leaves and is highly valued for its strong aroma and cooling properties. It is highly used in food and beverages, pharmaceuticals, cosmetics, and aromatherapy.
MCX Mentha Oil refers to mentha oil futures contracts traded on the Multi Commodity Exchange (MCX) in India, where investors can check the future price movements of mentha oil without owning the physical commodity.
The current MCX Mentha Oil price is 929.0 Rs.
As of Tuesday, 07 May 2024 15:15 PM, India Time, Market Open
Last Trade: 929.00
Change: -2.20
Change in %: -0.24%
High: 931.90
Low: 929.00
Open: 931.30
Factors Affect MCX Mentha Oil Price
There are several factors which affect the price of MCX Mentha Oil. Let’s understand it-
Supply and Demand Dynamics: Like other commodities, the fundamental principle of supply and demand plays also applicable to Mentha Oil. Supply is affected by weather conditions, crop diseases, and agricultural practices. Demand is affected by pharmaceuticals, cosmetics, food and beverages, and aromatherapy usage.
Weather Conditions: Mentha is a very sensitive crop. A bit of change in the weather conditions like temperature, rainfall, and humidity affect the price of Mentha oil in the market. In addition, Unfavorable weather conditions tighten supply and increase the price in the market.
Government Policies: From time to time, Government Policies change like export-import policies, subsidies, and taxation which affect the price of Mentha oil in the market. Moreover, changes in the government policies also affect the production levels, trade flows, and market sentiment which also directly affect the market price.
Currency Exchange Rate: Mentha Oil is used worldwide, hence changes in the currency exchange rate also affect the price of Mentha in the market, Changes in the USD/INR exchange rate can impact the competitiveness of Indian mentha oil exports and import costs.
Global Market Trends: As said, Mentha Oil is traded at the global level. Hence international market trends and developments can influence MCX Mentha Oil prices. Moreover, changes in global demand and geopolitical events can impact market prices.
Oil Prices: Mentha Oil is highly used as a flavouring agent in the food and beverage industry and as a fragrance in cosmetics and personal care products. It is not so common oil that is available everywhere.