MARKET REPORT NOVEMBER 2021
The following report contains updates on the current trends in production and availability of the most in-demand Essential Oils and Carrier Oils sourced from around the globe.
In India, Palmarosa is harvested during February, June, and October. Currently, there are no issues with regards to Palmarosa crop's growing conditions. Growing conditions in India change depending on the time of the year. Over the year, the weather ranges from hot wet weather to cool dry weather to hot dry weather. The monsoon season and precipitation determine crop availability. While the projected harvest yield is 0.5% lower than that of last year, the market demand has increased, as a result of the growing consumer demand.
Ylang Ylang is a yellow, star-shaped flower of the Cananga tree, which is mainly grown on the island of Nosy Be found on the northwest coast of Madagascar. The Ylang Ylang flowers are harvested between March to May and September to November. The fertile alluvial soil in the valleys of Madagascar support intensive cultivation. Volcanic intrusions in the country, have contributed to producing fertile soil. Compared to last year's harvest yield, this year's yield has increased. There has been a slight drop in the American market as the market is less competitive than before.
The new harvesting season for Eucalyptus crop has not yet started in China. The market demand is weak, but the market price remains stable. Eucalyptus Ex Camphor Oil prices remain stable. Eucalyptus Globulus Crude Oil price has risen. A few Hybrid Camphor processing plants are closed due to environmental protection permits. As a result, some manufacturers have increased their purchase prices.
Litsea Cubeba production in China, is about to come to an end. China's climate is heavily influenced by the movement of air mass between Siberia and mainland China. The drier North and wetter South climate have a significant impact on crop growth. Most of the Litsea Cubeba Oil has been acquired and will soon appear in the market, but the available quantity of the oil will be limited. With the increase in market demands, the price will also rise.
The autumn harvest of Cassia leaves is still in progress. It will take some time before Cassia Oil becomes available to the market. The oil was consumed in the early stages of the market, but the current market availability is limited, and prices continue to remain high.
Sweet Marjoram Essential Oil is derived from the flowering tops of Majorana. Marjoram harvest occurs twice a year: once between May and June and a second time between August to October. The demand for Marjoram Essential Oil has increased. This change is a result of the changing consumer preference and lifestyles. Grown in Egypt, the climate conditions and precipitation will determine if this year will be a suitable season. The 2021 Marjoram Essential Oil market started with high prices due to the remaining demand from the previous year. Market demands are estimated to increase. In recent years, more consumers have gravitated towards natural products. The Cosmetics industry is estimated to dominate the market during the next forecast period, with the popularity of Marjoram Essential Oil preference in fragrances, perfumes, soaps and creams. The food application market is also expected to grow during this period.
Meadowfoam was harvested in the late summer of this year. Cultivated in Canada, the country is known for its cold winters, short cool summers, and sparse precipitations. The next harvest will be in August 2022. The current growing conditions are consistent with recent growing conditions, while floods and drought will not affect the crop. The 2021 harvest had a strong yield and has been consistent with the projected harvest yield. The demand for Meadowfoam Carrier Oil is increasing and the rising prices are impacting the production of Meadowfoam Carrier Oil and crop contracting costs.