Mentha Oil Price Trend

Mentha Oil Prices (Q1 2022)


Mentha oil futures rose on the MCX as speculators increased their holdings due to tight supplies and lower output forecasts in the market. Furthermore, increased demand from the spot market pushed up the price of mentha oil. Concerns about the impact of the omicron variant of coronavirus on the economy, however, limited further gains in mentha oil. Prices rose to 1048 INR/kg in India in January 2022 but later declined constantly to as low as 975 INR/kg in February which was followed by a sharp rise 1011 INR/kg by the end of the month. In March, the prices rose to 1081 INR/kg.

Mentha Oil Prices (Q4 2021)


On Tuesday, November 23, 2021, the price of the commodity fell to INR 928.60 per kg on the Multi Commodity Exchange (MCX). The Mint Oil Rate per kg had been declining for the third day in a row. On November 16, the price of Mint Oil per kg was INR 940.40, INR 935.90 on November 19, and INR 933.20 on November 22. Experts predicted that the price of mentha oil would exceed INR 1000 by the end of November. This was due to its rising demand in both domestic and international markets.

North America

Suppliers' OPEX was driven by increases in raw material prices, such as the mentha crop. The market witnessed an inflationary effect as a result of this. The cost of compliance for mentha oil suppliers during cross-border supply increases as taxes rose. Because its global availability is heavily reliant on imports, taxing will lead to an increase in its price. Its supply market influence in North America is limited due to a heavy reliance on imports from APAC. Distributors make up the majority of the supply base, and they can serve the entire region.

Mentha Oil Prices (Q1-Q3 2021)


BASF’s integrated aroma facility in Malaysia started its full production of menthol by mid-2019, however, they were still fulfilling the already contracted orders and were expected open to the non-contracted customers by H1-21. The average menthol crystal prices witnessed an increase of about 4-5% from 2020 to 2021, owing to recovering demand from downstream industries. The average price of menthol in the first 2 quarters of 2021 was 14.68 USD/kg, while it was 14.95 USD/kg in the second half of 2021. (CIF India)

Mentha Oil Prices Overview 2020


Harvesting had been delayed earlier in June due to the lockdown phase and a shortage of labour activities. As the lockdown started to loosen in India's rural and semi-urban areas, cutting of the crop began in Uttar Pradesh. Furthermore, domestic pharmaceutical demand, which is typically stronger during the winter season, was lower in 2020. Despite fears of a trade war, import demand from key importing countries such as China, the United States, the Netherlands, Germany, the United Kingdom, France, Brazil, Japan, and Singapore was also substantially lower due to the rise in COVID-19 cases. The price reported in September was somewhere around 870 INR/kg.

As per BASF and Agson Global Pvt. Ltd., owing to the lack of availability of both raw material and finished goods, there was a rise in the price of menthol crystals in H2-20. Due to subdued demand despite ample stock in the past, the price had fallen. However, price increase was expected in the upcoming due to the stabilization of demand.

Menthol prices increased by about 6% in Q4-20 as the demand started to improve towards the end of Q3-20 from end use industries such as pharmaceuticals, food & beverages, and cosmetics industries, among others. In December, the price of menthol was 14.70 USD/kg.


Oral care, pharmaceutical, and confectionary firms such as Colgate Palmolive, Procter and Gamble, and Mars Wrigleys were expected to raise their mentha oil purchases in the first quarter of 2021, bringing exports closer to pre-Covid levels, according to companies and trade associations. Winter weather in the Europe was anticipated to enhance sales of the commodity, which is used in cold-relief drugs, pain treatment balms, and lubricants. Heavy snowfall in Europe had boosted hopes for a surge in its demand from pharmaceutical industries.

North America

The average price of this essential oil in 2020 in the US was 18.70 USD/lb. Because of the increased disposable income of customers in developing regions such as Mexico, Canada, and the United States, North America is driving the expansion of the essential oils industry. Because of their health-conscious lifestyles and discretionary wealth, consumers prefer to spend in natural, healthy, and nutritional items.

Procurement Resource Database

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Procurement Resource provides latest prices of Mentha Oil. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

Chart Description: 

Procurement Resource provides Mentha Oil prices for several regions around the globe, which are as follows:

  • North America
  • South America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

About Mentha Oil: 

Steam distillation and filtration of dried Mentha arvensis leaves or simply mentha (mint) results in the production of Mentha Oil. This is further processed in order to yield menthol along with other derivatives. Mentha Oil and its derivatives are extensively utilised in food, pharmaceutical, perfumery, and flavouring industry. Menthol and mint essential oil are also used in aromatherapy which may have therapeutic and clinical effect. 

Industrial Uses: 

  • Food industry
  • Pharmaceutical industry
  • Perfumery
  • Flavour and Fragrance industry

Production Processes: 

  • Production of Mentha Oil via Steam Distillation.

In order to produce Mentha Oil, the steam distillation of dried mentha leaves is carried out. This step is further followed by filtration process to separate distillate and finally obtain Mentha Oil.

Supplier Database: 

  • Sydney Essential Oil Co.
  • Aksu Vital Natural Products and Cosmetics
  • Ultra International B.V.
  • Farotti Srl
  • Robertet Group
  • Young Living Essential Oils
  • Lionel Hitchen Ltd

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

Procurement Resource also provides the detailed production cost analysis of Mentha Oil See more


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