If you want to know the mentha oil rate in Barabanki, Sambhal, Rampur, or elsewhere in India today, this article is for you. Read about the current rates of mentha oil, the product from which peppermint oil and other pharmaceutical product are derived.
What is mentha oil used for?
Mentha oil can be processed to make methanol and various other derivatives. The uses of this substance are immense: perfumery, food, and flavoring industry. But the pharmaceutical industry uses it the most. India has emerged as the biggest exporter of mentha oil, with sizes of 45.000 tons achieved in the early 2013s.
Mentha oil rate today
As of now, the prices of mentha or peppermint oil today are around 1200 INR per kg. However, the price depends on the strain, the market at that time, and various other factors, as discussed below.
Mentha or peppermint oil rate faced a lot of fluctuations when India first emerged as a major exporter. However, many participants in the trade of menthol oil can withstand the price risk by utilizing the liquid futures contract on the Multi Commodity Exchange of India (MCX).
Factors influencing prices
Many market factors affect piparment oil’s price (Indian name for peppermint). The first factor is the fluctuation in demand from major importers like China, Singapore, and the United States. If demand is high, the rate of mentha oil today will go up.
The dollar-to-rupee exchange rate is the second factor affecting the price of menta oil in India. If it is low, the product will be cheaper in foreign markets, and if the rate is high, the import will be more expensive for the buying country.
The price of synthetic oil in the traditional markets also significantly influences this market.
On the supply side, increase or decrease in crop production, climatic changes, and investments all affect the output of this industry. It expands or constricts the mentha or peppermint oil market, determining the price.
As mentioned above, there are various strains and derivatives of this product. Thus the major export varieties of mentha oil are Japanese mint oil (dementholized or normal), spearmint, watermint oil, peppermint oil, and horsemint oil. The major importers of these products are Japan, France, Singapore, China, and the United States.
Various other varieties are available in India that might only be exported occasionally due to demand and supply restrictions. Of course, the type of mentha oil affects its price.
The bottom line
The trading sessions for mentha oil take place during the MCX’s regular timings of Monday to Friday (9 AM to 5 PM). The prices displayed online are fairly accurate, and you will not find a lot of fluctuation in the market. However, if you are buying a bulk order, then it is advisable to double-check the mentha oil rate today (mentha oyal aaj ka ret in Hinglish) from various sources.