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MARKET REPORT FEBRUARY 2019

The following report contains updates on the current trends in production and availability of the most in-demand Essential Oils, Carrier Oils, and Raw Materials sourced from around the globe.



Sandalwood Oil

In east India, Sandalwood, which grows in the wild where the climate and growing conditions are always ideal for its development, does not have a particular harvest month, as it is harvested once it attains maturity at the age of twenty-five years or older. Oil derived from Sandalwood that is harvested before this stage of readiness will exhibit a noticeable difference in quality. The market conditions and the demand for Sandalwood are stable, and efforts have been made to prevent the prices from increasing.

Orange Sweet Oil

In Brazil, Oranges are harvested from May to April. Growing conditions for the next season are expected to be better than the current growing conditions, and, while it is too soon to project the next crop yield, it is expected to be higher. Market conditions are lower than in the previous year; however, they are stable.

Patchouli Oil (Dark & Light)

Patchouli cannot be cultivated during the dry season; however, during the wet season, there is a continuous Patchouli crop, and there are 3-4 harvests from one piece of land per annum. In Indonesia, there is a yearly production of 1100 to 1400 MT. More than 80% of this volume comes from Sulawesi, with the rest coming from Sumatra and Java. The Patchouli crop is constantly moving, in that its cultivation must keep shifting to various suitable growing regions in order to be successful; accordingly, the production of Patchouli Oil is expected to remain the same or to decline. The land and crop are able to provide optimal yields for up to 5 years, after which time the soil is usually no longer suitable for Patchouli cultivation. Natural disasters as well as a crop disease caused subpar harvests in 2018, hence the lack of supply and superfluous demand.

Patchouli Organic Oil

In India, there are 3-4 Patchouli harvests per annum, depending on the growing conditions. The current conditions are favorable, especially since the north-eastern regions, which are more advantageous for Patchouli cultivation, recommenced production. Harvest yields are expected to improve by 15-20% in the current year. The demand for Organic Patchouli is steady and equally aligned with production. With an increased awareness of Indian Organic Patchouli’s potential in Essential Oil production, it is receiving more attention and gaining greater acceptance worldwide, and availability as well as prices have been steady. The current market situation is favorable. With Patchouli Oil production being <30MT per year, it is a small marketplace with transactions taking place in closed circles. The market conditions are, however, expected to improve eventually, as Patchouli has mass appeal in popular culture and is also a prominent fragrance ingredient in the perfume industry.

Castor Vegetable Wax (Flakes)

In India, the harvest of the new Castor crop has already begun, with the peak season beginning in March and continuing to May. Last year’s lack of rain, which nearly resulted in a drought, caused the crop acreage to decrease by almost 30-35%. Compared to the previous year, the crop is also reduced by 30%. While it will be easier to project an estimate of harvest yields in the peak harvesting months, the expectations are below normal, as the inadequate rainfall has negatively affected the crop growth. At present, there is good demand, which is expected to rise in the short term, as a majority of Chinese buyers are expected to enter the market after the New Year Holidays and to be in market to cover the goods for factories. Considering the crop situation, the current prices are considered to be bottom-level.

Sacha Inchi Organic - Extra Virgin

In Peru, Sacha Inchi seeds are harvested year-round. This year’s growing conditions are expected to be favourable, and the harvest yield is projected to be greater, due to the new crops that were planted in Peru the previous year. The growing global demand for Sacha Inchi Oil is particularly evident in North America, Europe, and Asia. Prices for Sacha Inchi Oil are expected to remain stable throughout the year, due to supply and demand that are expected to develop at the same pace.

Shea Butter

For the past 3 years, Tamale, the capital of Northern Ghana, has been suffering through drought conditions. If this season does not receive sufficient rainfall, Shea pickers in various parts of the Northern Region are at risk of facing losses. High local and international demand for Shea has caused an increase in Shea nut prices; too, the absence of a Shea board, which could have helped to control regional Shea nut floor prices, has meant that the operations of middlemen have also been a cause for the rising prices.



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