MARKET REPORT AUGUST 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.
In India, Lemongrass is harvested in May, September, and February. The current growing conditions are favorable and no issues have been found for this crop. This year's harvest yield is projected to be the same as last year's, and approximately 50-60kg of Lemongrass Oil can be produced from 1 acre of land. There is increasing demand for pure Lemongrass Oil in the world market, and production increased by over 20% in early 2019. Market conditions are favorable with expected growth in coming days.
In China, Evening Primrose is harvested in October. This year's harvest yield is projected to be slightly lower than that of last year. The demand and market conditions are stable.
In Chile, Raspberries are harvested manually, with the harvest season beginning around December and ending in February or March. The seeds are available year-round, as the fruits are frozen until they can be used by juice producers. This year's growing conditions were favourable and the harvest yield was high higher. The demand is increasing and the market conditions are good.
In Sicily, organic Lemons are harvested from December to June. The Mediterranean climate in Sicily is highly favorable to the growth of citrus fruits, and, at present, all trees are free from severe cultivar diseases. While harvest yields might vary slightly over the years, this fluctuation is not detectable in the market. For their exceptional, organoleptic qualities, Sicilian oils are consistently in great demand and are thought to be the most appreciated by flavour and fragrance houses the world over. The Lemon Oil market is influenced by the international, European, and domestic markets; thus, the conditions change each year.
In Sicily, Lemons are harvested from late November to late April. This year's crop is expected to be quite fair, despite the warm temperatures, which could potentially affect the blossoming. It is too early to tell; thus, a clearer figure will be available during the month of September. This year's harvest yield is highly likely to be at least at the same level as that of the previous year. The demand for Lemon Oil and Lemon 5-Fold oils increases slightly each year, mainly in the Asian market. Due to an excellent crop in South America and the consequent increased availability of raw materials, there is a possibility of a price reduction.
In India, Palmarosa is harvested every 3 months. A drought-like condition in the growing region has impacted the harvest yield and has caused a decline in production. This year's demand was low and the market conditions are at the lowest level.
In India, Turmeric is harvested from January to March. There have not been any major issues with growing conditions. Carryforward stocks are decent this year; hence, there might not be a surge in prices during the next season. The demand for Turmeric is stable. The prices are firm and are expected to remain the same for some time.
In China, Sea Buckthorn fruits are harvested every year between October and January from the stable region of the Tibetan Plateau. At these high altitudes, the Sea Buckthorn fruits experience extreme temperature changes and are constantly exposed to intense sunlight, a duality that helps them to develop a natural resiliency and to better lock in nutrients without any man-made pollution. Compared to last year, this year's harvest is expected to be slightly lower. In China and Southeast Asia, the demand for Sea Buckthorn is increasing. The rising cost of artificial picking is also leading to increased prices.