The growing currency of Japanese mint 'Mentha' in the country

Mentha is known as Japanese Mint because Mentha originated in Japan. Sowing of this crop started in Argentina, Brazil and China and then in Japan and then in India. The oil and its derivatives are commercially grown in the food, pharmaceutical and cosmetics industries. Menthol is produced from mentha oil, as well as used in the toothpaste, toothpaste, chewing tobacco, confectionery, mouth fresheners, chewing gum and candy, tobacco industries. About 50 per cent of the total mentha oil consumption is in the tobacco industry, followed by the pharmacy and confectionery industries.

Globally, India is the world's largest producer and exporter of mentha oil. India accounts for about 5 per cent of the total mentha oil produced, followed by China (12 per cent) and other countries at 4 per cent. India's consumption is estimated to be around 30 per cent of the total global consumption, followed by China, Europe and the USA. Mentha oil consumption in India has increased in the last two decades, mainly due to India's continued industrial growth, along with the increase in consumption of tobacco products. Major importers of mentha oil include China, Argentina, Brazil, USA, France, Japan and UK. China is the largest consumer, but other countries also import mentha in the form of mentha powder and crystals. India is a leading producer of mentha oil with a share of 20-2%. Other major producing countries include China, Brazil, America and Japan.

According to trade sources, India is expected to produce 5,000 to 20,000 tonnes of mentha oil this year. Last year, the production was between 20,000 and 5,000 tonnes. India exports 90% of its exports to more than 115 countries every year. According to the information received, India exported ૯૯ 12.5 million in April-November 2020-21. In terms of volume, it will go up to 12,500 metric tons.

Leading producing states in India include Uttar Pradesh and Bihar. While Himachal Pradesh, Jammu and Punjab contribute less. Mentha oil is brought to the trading center by farmers / producers in distilled form and sold to commission agents. In addition, the rise in crop prices as well as the establishment of mentha oil processing centers have provided incentives to farmers to take more and more menthanopak. Mentha contributes 40-50% to the total production in Uttar Pradesh.

Mentha oil has experienced a golden age for the mint industry in the last four years. Prices have risen significantly over the years, giving beautiful returns to stockists and Indian farmers. The present price of Mentha in the Chandausi market is currently Rs. 103-1050 per kg which is very low considering the past price.

Currently the futures market is range bound but once the lockdown and border trade ban is lifted, trade volumes will increase and thus good prices are expected in the long run.