MCX mentha oil down over 1% on likely higher output.

Mentha oil futures fell over 1% on the MCX on expectation of higher output of the mentha crop in 2016-17 (Jul-Jun). Favourable weather conditions during the sowing season resulted in higher acreage, and raised hopes of a better crop this year. Harvest of the mentha crop will start around mid-May, and arrivals typically reach their peak during June-July. Mentha oil production this year is expected to be around 28,000 tonne, higher than 25,000 tonne last year.