Mentha Oil Prices – Historical Graph

Real-time chart of historical daily mentha oil prices. The prices are shown in kilogram.
The current price is and is last updated on .
  • The average price in the past 3 days is
  • The average price in the past 7 days is
  • The average price in the past 30 days is
  • The average price in the past 365 days is

Mentha Oil Prices Explained

Market analysts predicted that mentha oil prices will benefit from the research on the commodity’s application in the medical field. This essential oil is a key ingredient in many industries such as pharmaceuticals, food, and cosmetics.

Why are mentha oil prices fluctuating?

1. Decreased Production

The decrease in production due to drought and excessive rainfall affected mentha oil prices. Several mentha-growing regions, particularly in India, experienced unfavorable weather conditions which lessened the crop’s yield.

The country currently battles the effects of El Niño which causes dry weather seasons.

As a result, the Indian government predicted a 23% drop in its total 2023-2024 crop yield. India accounts for 80% of global mentha oil exports and the country’s diminished output influences the fluctuating mentha oil prices.

2. Increased Demand from Key Industries

Mentha oil is a key ingredient in many pharmaceutical products such as cough drops, nasal sprays, and pain relievers. Additionally, the food and beverage industry uses mentha oil to flavor candies, chewing gum, and toothpaste.

The increasing demand for this commodity from these top consumers due to the rebounding of the manufacturing market drives mentha oil prices.

3. Winter Demand

The winter season typically sees a spike in demand for mentha oil from Fast-Moving Consumer Goods (FMCG) industries.

For instance, mentha oil is used in cold relief medicines such as pain relief balms and ointments.

The cold weather in the US and Europe tends to boost the sale of these products. Thus, this robust demand coupled with the reduced supply contributed to the mentha oil price surge.

4. Export Inquiries and Rupee Depreciation

The international market plays a significant role in determining the price of mentha oil. There is a consistent increase in export inquiries which drives mentha oil prices.

Additionally, the depreciation of the rupee ( mentha oil’s currency trading standard ) made exports more profitable.

Moreover, the carry-forward stock of mentha oil declined significantly. Last year, the carry-forward stock was about 6,693 tonnes and this year, the market expected its stock to fall to 246 tonnes due to the combination of lower supply and declining production.

Overall, this reduced production, increasing inquiries; and depreciating rupee created a supply-demand imbalance, leading to higher mentha oil prices.

Which variables impact the price of mentha oil?

  • Decreased Production
  • Increased Demand from Key Industries
  • Winter Demand
  • Export Inquiries and Rupee Depreciation
  • Weather Conditions
  • Currency Fluctuations

Where does mentha oil come from?

Mentha oil is a natural essential oil extracted from the mentha plant which is native to India and Europe.
These are the processing steps of mentha oil:

1. Harvesting – The mentha plant is harvested when it is in full bloom. The leaves and stems are cut and collected.

2. Drying – The mentha leaves and stems are dried in the sun or a drying oven. This helps remove moisture from the plant material which makes it easier to extract the oil.

3. Extraction – There are two main methods of extracting mentha oil: steam distillation and hydrodistillation.

Steam distillation – In steam distillation, the dried mentha leaves and stems are placed in a still, and steam is passed through them. The steam vaporizes the oil which is collected and condensed in a separate container.

Hydrodistillation – In hydrodistillation, the dried mentha leaves and stems are placed in a still with water. The water is heated which produces steam that vaporizes the oil. The steam and oil are gathered and precipitated in a separate drum.

4. Purification – After extracting, the mentha oil is purified to remove any impurities. This step involves filtering the oil or using a centrifuge to separate the oil from any water or other impurities.

5. Packaging – The final product or purified mentha oil is packaged in bottles or containers for storage and distribution.

What are the uses of mentha oil?

Mentha oil or peppermint oil is a versatile essential oil with various range of applications due to its strong and refreshing scent, known for cooling and invigorating properties. Here are some of the top applications of mentha oil:

1. Health and Wellness

Digestive problems: Mentha oil relieves digestive problems such as nausea, indigestion, and gas. Additionally, it improves appetite and reduces vomiting.

Headaches: It’s a good soothing oil for headaches and migraines. It is applied typically to the forehead and temples, or inhaled.

Respiratory problems: It is used to treat the common cold, asthma, and bronchitis. These conditions are common during fall and winter.

Muscle pain: A good pain reliever. Mentha oil is used to relieve muscle pain and inflammation such as muscle cramps, minor cuts, and wounds.

Stress and anxiety: Due to its calming and relaxing properties, it is used to relieve stress and anxiety.

2. Beauty and Personal Care

Oral hygiene: Mentha oil has antibacterial and antifungal properties. It is added in making toothpaste and mouthwash as it’s a good oral hygiene kit.

Skincare: Due to its cooling and anti-inflammatory properties, it is used to reduce redness and irritation caused by acne, eczema, and psoriasis.

Hair care: Additionally, mentha oil is used to stimulate hair growth and reduce dandruff. It is added to shampoo and conditioner for scalp treatment.

3. Food and Beverage

Flavoring agent: Mentha oil is a popular flavoring agent in foods and beverages such as candies, chewing gum, toothpaste, and ice cream.

What is the future price of mentha oil?

The Business Growth Reports reported that the global mentha oil market is expected to reach $1,774.67 million by 2030. The Asia Pacific region will be the largest market followed by North America and Europe.

Additionally, it is forecasted to grow at a CAGR of 10.5% during the period 2023-2030, according to a report by GII Research. This growth comes from the following:

  • Increasing demand for mentha oil in the food and beverage industry, particularly in developing countries.
  • Rising awareness of the health benefits of mentha oil such as its digestive, respiratory, and pain-relieving properties.
  • Growing demand for mentha oil in the pharmaceutical industry for the development of new drugs and therapies.
  • Increasing use of mentha oil in cosmetics and personal care products due to its pleasant aroma and refreshing properties.

Overall, based on the presented future movers above, mentha oil prices will be around $ 1,800 and $2,000 per ton in 2030. This represents an increase of 2-5% from the current price.


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