In commodity market terminology, Mentha Oil refers to the oil from Mint or Mentha plants, a genus consisting of 25 perennial herbs of the Lamiaceae family. Mentha Oil is commonly used as a flavoring in breath fresheners, toothpaste, chewing gum and other products. The oil is also used in medicine, cosmetics, insecticides, and as a cigarette additive.
Mentha Oil futures trade on three commodities exchanges in India: the Multi Commodity Exchange of India (MCX), the National Commodities and Derivatives Exchange (NCDEX) and the National Multi-Commodity Exchange. Each exchange has its own quality and contract specifications, and contracts are generally quoted in Indian Rupees.