Peppermint oil is extracted by steam distillation from the dried herb of Mentha piperita. The plant is native to Europe but is now cultivated in many parts of the world. The largest producers are America, China and India, with India producing around 600-700MT per annum (2014/15).
It grows in the traditional 'Mint Regions' of India, which are the north and north west areas of the country.
India's piperita exports in 2014 were approximately 400MT with Europe seen as the biggest buyer (France and UK totalling 43%) whilst the USA took 30% of India's exports.
Peppermint has a wide variety of uses across many sectors but is most commonly seen in products such as teas, candy, chocolate, aromatherapy, oral care, chewing gums and insect repellents.
Peppermint is also known for its health benefits including the treatment of irritable bowel syndrome and other digestive complaints.
Areas of plantation may reduce in 2024, due to the low price the product drew this year. Combined with the low acreage of American mint, market price is expected to increase. There is a shortage of chlorpyrifos-free mentha piperita. Market is flooded with low quality material, while high grade stock has been dispatched. Price levels witnessed in 2023 are not expected to continue in the coming year. An upward price trend is expected. Currently, the price of mentha piperita has increased by 5-8%. Mentha oil is being traded for INR 1,006/kg.
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