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MARKET REPORT JANUARY 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.



Frankincense Oil

In India, Frankincense is harvested from mid-November to the end of March. The growing conditions have been normal and the harvest yield is projected to be the same as that of last year. The worldwide consumer demand for natural and organic products is increasing by 20-30% year over year, and the world market recognizes the therapeutic value of Indian Frankincense Oil, thus now that it has also been approved by international regulations, including The International Fragrance Association, The Research Institute for Fragrance Materials, and Cosmo International Fragrances. The demand for Indian Frankincense Oil has been widely accepted by aromatherapy and cosmetic industries. Due to the production issues with and the high costs of Somali Frankincense, the market conditions have been more favourable for the Indian variety; hence, there is high demand, although there is an expected decrease in supply in the short-term.

Chili Seed Oil

In India, chilis are harvested between February and May. The growing conditions are favorable, and this year's harvest yield is projected to be the same as that of the previous year. There has not been much difference in the demand; it is stable.

Palo Santo Oil

In Peru, Palo Santo is harvested year-round from dead trees. For 2019, there is a projected demand of 400 kg of oil, and this could increase to 800 kg of oil by mid-July. There is high demand for Palo Santo Essential Oil in China and Korea, with increasing demand in North America and Europe. The current market conditions are good and point to a potential increase in the production of this oil.

Clove Bud Oil

In Indonesia, Cloves are harvested largely between the months of May and October. The growing conditions are favourable, except during the rainy season. Due to weather changes, this year's yield is lower than that of last year. In general, there is good demand and the market conditions are stable.

In Sri Lanka, Cloves are harvested between January and February. The growing conditions are favorable and the crop yield is similar to that of the last harvest season. There has not been much difference in the demand, thus it remains stable.

Sri Lanka is the market leader in the production of Organic Clove Bud Oil, the yield of which is 15% lower than that of the conventional variety. Though the demand for this product is encouraging producers to plant more certified Organic crops in the future, and prices depend on the supply and demand dynamics.

Peppermint Japanese and Peppermint Supreme Oil

In India, Mentha piperita is harvested from May to June and Mentha arvensis is harvested from June to July. In 2017, there was a decent harvest; however, there was no remaining stock to carry forward into 2018 and the demand was higher. The weather conditions in 2018 were favourable, at the moment, there is a shortage in crops and a high international demand. The markets are firm and stable from the 2018 crop. The 2019 crop will be available in June/July.

Organic Peppermint is harvested between April and June. The current growing conditions are favourable and the harvest yield is projected to be higher than last year. The demand and market conditions for Organic Peppermint are average.

Ricebran Oil

In India, Ricebran is harvested from mid-September to October. This year's growing conditions are favourable; however, the harvest yield is projected to be lower. The demand for Ricebran is growing daily and the market conditions are good.

Mango Butter

In India, Mangos are harvested annually between April and June. The current growing conditions are favorable. The 2019 harvest yield is projected to be higher than that of last year. Each year sees a 5-10% increase in demand, which may potentially lead to a 5% increase in prices for the raw material.

Kokum Butter

In India, Kokum is harvested annually between May and July. The current growing conditions are favorable in the largely coastal growing region. The upcoming harvest yield is projected to be higher than that of last year. The demand is increasing by 10-15% each year, and the price of Kokum Butter Raw Material is expected to increase by 6-8%.

Sesame Oil

In India, Sesame seeds are cultivated year-round. They are sown from January to March, then the major crops are available from April to December. At present, it is too soon to forecast the growing conditions and yield, which will be predictable after March. The demand for Sesame seeds is moderate; however, the demand for Sesame Oil is good. The market prices will not decrease until April; however, they are expected to rise based on the demand.

Pepper Black Oil

In Sri Lanka, Black Pepper is harvested between May and July then again from November to December. In Indonesia, it is harvested between August and September. The growing conditions are favorable and large carry forward stocks are available. This year's harvest yield is projected to be similar to last year's. Due to the larger availability of carry forward stock, the demand is slightly lower.

Organic Black Pepper, generally grown in Sri Lanka's Hill Country, is harvested between May and October. Among the countries that manufacture Black Pepper Oil to the market, Organic Black Pepper Oil has had a growth of 5%, compared to the previous year's figures. Sri Lankan Black Pepper has the highest amount of Piperine, and this is the reason why it has the highest market price.

Cinnamon Leaf Oil

In Sri Lanka, Cinnamon is mainly cultivated in the Southern province, and Cinnamon Leaf Oil is usually produced twice a year; the first harvest season normally begins on or after the Sinhalese New Year period at the beginning of May and lasts until September. The next season begins in December and ends in March. The first crop yield is higher when compared to the second crop. In practice, the Cinnamon Leaf Oil yield is 0.7-1.2%; however, last year the product yield was 0.8-1.0 %, a relatively higher amount compared to the previous year. During the last year, demand for the oil has been higher. Due to its aroma and the product quality, most buyers prefer Cinnamon Leaf Oil over Clove Leaf Oil.

Compared to the conventional grade of Cinnamon Leaf Oil, the production of Organic Cinnamon Leaf Oil is low. The demand for the Organic oil remains the same as the previous year's demand and is expected to grow by 10% in the next year. The unit price will depend on the supply and demand scenario.

Coffee Green and Coffee Roasted Oils

In Brazil, Coffee beans are harvested between June and August. The coffee crop grows every two years; one year might produce a higher volume than the other, and 2018 was the full crop year. Coffee is a highly demanding and an expensive crop with prices that vary according to a commodity exchange. Due to the drought in 2018, the 2019 harvest is said by some to be low; however, some farmers expect a good crop. Coffee prices are expected to remain the same.

For the purposes of oil extraction, it is not recommended to use Coffee from old harvests; rather it is suggested that Coco Coffee – that is coffee stored in its shell – be used, as it retains moisture as well as properties that are comparable to that of the fresh seed. In 2018, the Coffee harvest was excellent in Vietnam and Colombia and it is expected to be the same in 2019. This is understood to help greatly reduce the price of Coffee in the international market.

Laurel Leaf Oil

In Slovenia, the Laurel leaf harvest begins in October, continues through the Winter, and ends in May. The harvest yield remains at same level. The demand remains stable with the market conditions and the price remaining the same as last year.



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