Prices for natural menthol on the spot still in the mid $40’s. Forward shipments out of India at mid $30’s  and BASF 12 month contracts below $20 kg.

How will Indian suppliers react to this?

There will be nothing done in short term although prices will ease down they are not seeming to fall so much in the hot months. September prices in low $30’s but spot oil prices in India nudged up a bit and this may mean prices staying mid £30’s.