THE CONFERENCE PROCEEDINGS - IFEAT

the Barabanki area in western Uttar Pradesh due to the attraction of higher prices. As mentionedearlier, price hit a high of US$80/kg in 1996~97. Mint was usually planted after the wheat harvest inApril and harvested before the planting of rice in August.Let me elaborate a bit on the crop cycle. In China, farmers in Anhui and Jiangsu can plant one or eventwo crops within a year. In India, farmers can plant three crops in a year, say, wheat-mint-rice. Mint isplanted in roots in February~March or by transplant in April.The Multi Commodities Exchange (or MCX) in Mumbai started trading in June 2005 and is asignificant step forward for the traditional menthol business. Many in the menthol business were notused to it, and even resisted it initially – now all and sundry know the prices - but as they would say:this is the age of "Facebook and Twitter" where you simply cannot hide the price! Today, the price onthe MCX serves as an important reference for all buyers and sellers, whether you like it or not.Basically, there are the four main seasons inIndia: Winter (Dec~Feb), Summer or Pre-Monsoon (March~May), Monsoon(June~Sept), and Post-Monsoon (Oct~Nov).Not quite the typical seasons we see in theUSA, Europe or China. But you can see theimportance of the monsoon to India in thatthe seasons are defined around it! Annualrainfall is illustrated on the slideAnnual RainfallAs we know, India is the second mostpopulous country after China, and agricultureis critical to its survival. So the IndianGovernment is always on the lookout forways to make full use of the land andincrease the crop harvest. In the 1980s, cornmint (Mentha arvensis) was identified since the climateand geographical location is suitable for mint, the crop is pest-resistant, and it would increase farmers’incomes. It did not quite take off until the 1990s when high-yielding, shorter growing cycle varieties,such as M1, Shivalik, and Kosi were introduced to farmers and this led to widespread planting.Main Cornmint Area –Punjab/Uttar Pradesh/BiharThe main cornmint growing areas include:Uttar Pradesh (UP), Punjab, and Bihar. AndUP is the largest producer of mint. Togetherthey are known as the Mint Belt of India.The Mint Belt is also located in the subtropicalarea known as India's breadbasket -an area about 1,500 km long and 250 kmwide that includes Punjab, HimachalPradesh, Haryana, Uttar Pradesh and Bihar.10