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Commodity and currency expert Neha Qureshi, Senior Technical & Derivative Analyst at Anand Rathi said that mentha oil prices have seen a dramatic rise in the last couple of weeks as supply-side fundamentals are seen tightening amid an expected drop in output during the 2023-24 season. "Output of this oil is seen declining for a second straight year and thus carryover stocks will shrink further by the end of the season," Qureshi said. ....
Mentha oil futures have jumped more than 18% in August and are currently trading at a 4-month high level, riding on sentiments around the fall in output and amid hopes prices could remain firm, said experts. ....