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MARKET REPORT JUNE 2018

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.



Tangerine Oil

In Brazil, Tangerines are harvested and processed between May and September. The abundant precipitation that began in March and continued until recently allowed for better growing conditions, albeit with some limitations. This growth has shown an improvement from the beginning of the harvest season, at which time the summer months had unfortunately experienced a strong drought in the productive fruit areas. Although the degree of fruit maturity was not affected, the lack of moisture in the first stages of growth of some varieties affected the development of the tangerines, resulting in low-caliber (small) fruit. The cost of production has also increased from last year. There has been a sustained and growing worldwide market demand for Tangerine Essential Oil – greater than the demand in previous years – due to the lower supply of tangerines from other regions, such as Italy.

Eucalyptus Globulus Oil

In China, Eucalyptus is harvested between the months of November and February. The growing conditions have been normal, and the harvest yield is also projected to be normal. For the past two years, there has been active demand, which is predicted to remain the same as the new harvest season approaches in 4-5 months. Due to lower expectations and a low demand from buyers, prices are at their lowest, making the present period an ideal time for purchasing.

Argan Oil

In Morocco, Argan nuts are harvested in the months of June and July. This year's winter and spring rainfalls were sufficient for supporting favorable growing conditions, and a normal crop is expected. At present, it is too soon to estimate the potential harvest yield, as the crop has just begun to grow, thus the month of September is expected to provide a better projection of the crop yield. There is sustained demand for Argan Oil in Morocco, where it has great importance for its use as a cooking oil.

Lavender Oil

In Bulgaria, Lavender is harvested from late June to mid- July. Due to rain and high humidity, the weather before the harvest has not been favourable. Although there haven't been any major problems with Lavender production this year, recent increases in rainfall – some growing areas are flooded to some degree – could cause issues for the Lavender crop, if the current heavy rainfall persists. While it is too soon to confirm the exact type of impact this will have on crops, a generally negative impact can be expected, as production has been low and farmers have been unable to attend to the fields because of rain water. Sunny weather is expected shortly, at which time the harvest procedures can advance.

Last year's total production was approximately between 300-450 MT, and, if weather conditions improve, there is potential for the harvest volume to be equal to or greater than this number. The demand for Lavender remains stable and strong since 2017.

In France, the Lavender harvest occurs mainly in the summer between mid-July and early-August. This year's production is late due to unfavorable weather characterized by heavy rains and cold weather; however, with the weather becoming warmer and windier, the delay is not expected to last much longer. Though the harvest has not yet begun, the crop yield is projected to be decent and, at the very least, the same volume as last year. In France, 5000 hectares of Lavender are planted with a production of approximately 90 tons. The demand remains high, especially from the Asiatic market.

In Ukraine, Lavender is harvested in July. Current growing conditions are poor, due to a lack of rainfall over the spring and early summer months. Compared to last year, this year's harvest yield is estimated to be lower; however, at this stage it is difficult to project the exact volume. As the harvest month approaches, the market conditions remain firm.



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