MARKET REPORT JANUARY 2023
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.
Sometimes referred to as "Sweet Chamomile", Chamomile Roman Essential Oil is steam distilled from the Anthemis nobilis flower grown in France. The crop is planted between November and December, and harvests between July and August. The Chamomile Roman plant thrives in rich and sandy soil, with proper drainage during rainfall and irrigation. The ideal weather conditions include rainy spring weather, as well as dry with plenty of sunshine. The previous spring and summer were too dry to support the growth and harvesting of the Chamomile plant.
The current demand for Chamomile Roman Oil is poor. Farmers are losing interest in planting Anthemis nobilis and are opting to grow more profitable crops. The projected harvest yield is lower than average, while the price and demand are low but stable.
Helichrysum Essential Oil is steam distilled from the Helichrysum italicum flowers grown in Slovenia. Harvest season occurs in the summertime, mostly in the month of July. Helichrysum flowers thrive in dry soil with some rocks, and the Mediterranean climate is most suitable for growth. The growing conditions for Helichrysum are currently favorable.
The projected harvest yield is predicted to be the same level as last year. The market demand is steady as usual. Due to the overharvesting of previous years, there were a lot of stocks available this year. The price for Helichrysum oil is expected to increase starting from the next harvest onwards, since leftover stocks are selling out.
Known for its sweet, exotic, and floral aroma, Ylang Ylang Essential Oil is steam distilled from the Cananga odorata flowers grown in Madagascar. Harvest season occurs between March and May, and again between September and November. Ylang Ylang thrives in slightly acidic to neutral soil and in hot and humid weather conditions. There are currently no issues with cultivation of the crop.
The harvest yield is projected to be plentiful for Ylang Ylang Essential Oil. The market demand has decreased by 30%, stabilizing the market overall.
The rich and emolliating Avocado Carrier Oil is cold pressed from the fruit pulp of the Persea gratissima plant grown in Mexico and Kenya. Harvest season occurs between April and September annually, although the time frame may vary slightly due to climate conditions. The growing conditions in Kenya are very favorable for the Avocado fruit, causing an increase in planting throughout the country. Kenya's two rainy seasons coordinate well with Avocado's growth cycles, since most small holder farmers do not irrigate their trees. Red soil is the ideal type to grow Avocadoes, however, soils such as sandy loam, clay, and black cotton have been proven to successfully grow the crop. The Avocado fruit is known to thrive best in tropical climates, since the trees require mild temperatures with enough sunshine.
The supply of Avocado, including the carrier oil, is expected to significantly increase in the coming years. However, the crop experienced an average yield in 2022, with volumes being slightly lower than expected. The demand for Avocado Carrier Oil has increased by 10% each year since production began in 2015. Due to the increased popularity of this oil, the market demand for 2023 is expected to increase by more than 15%. Market conditions are relatively stable globally. Competition has potential to rise due to new oil production companies operating in East Africa, Southern Africa, Central America, and South America.
Refined Hemp Seed Oil is cold pressed from the grains of the Cannabis sativa plant grown in the South Island of New Zealand. It is known for its high Omega fatty acid and protein content. The hemp plant is a single harvest crop. It is spring planted in July and August and is harvested between February and March. Most soil types are suitable for growing Cannabis sativa, although it is typically planted in the rich fertile soil of the Canterbury Plains. Warm and dry weather conditions are best for established crop.
Currently, there are no issues with cultivation of the Hemp plant. The oil is approximately 30% of the raw seed. The harvest yield for Hemp Seed Carrier Oil is expected to be the same as last year.
Unrefined Hemp Seed Carrier Oil is cold pressed from the grains of the Cannabis sativa plant grown in Canada and the United States. As a spring planted crop, Hemp is planted between July and August and is harvested in November. The current growing conditions are favorable, and the projected harvest yield is slightly higher than that of last year. Moist soil types are suitable for the hemp plant. However, rich fertile soil types are preferred for growth, as are weather conditions that are not too wet.
The current market demand for Unrefined Hemp Seed Carrier Oil is stable, and the supply is expected to meet this demand. Pricing has increased for farming the Organic variety, however, the pricing for Conventional Hemp Oil is similar to that of last year.