Mentha Oil physical stocks at MCX warehouses touch Rs 100 cr

Kolkata, Sept 25 (UNI) Mentha oil physical stocks at MCX-designated warehouses have crossed the Rs 100 crore mark.

Mentha oil is used in pharmaceutical and FMCG industry in producing cough syrups, mouth freshners and tooth pastes.

MCX spokesperson Jacqueline Patel said the complete forward and backward linkage developed by the commodity exchange led to surge in the trades in the commodity.

MCX mentha oil futures have become reliable price risk management tool and reference price for the farmers, exporters and corporate houses around the world having exposure in mentha oil or its processes products.

The MCX designated warehouses are holding around 7700 barrels or 1400 MT of mentha oil, Patel said.

India produces around 80 per cent of total world mentha oil requirements. India has the distinction of being the largest mentha and allied product exporter to various destinations including US, China and France.

UNI TJP KK/SRC1559