Lavender Oil Bulgaria
Whilst lavender is more durable to any harsh winter conditions there is only so much the plant can take before it starts to suffer.
The lavender plantations in Bulgaria are spread across many regions which means that if one area suffers another may escape but in the case of the southern areas the news hasn’t looked good for some time.
It is claimed that after the cold winter and the recent rains and hail there was a lot of damage to many of the older plantations with talk today already suggesting losses of over 30% for the season. This could represent as much as 100 MT of oil if we assume last year’s figures of 280+ MT.
It goes to show how volatile we are as a market which depends on Mother Nature to perform. This time last year Bulgaria had been celebrating a bumper crop which increased their total production by around 80MT. Ironically the short term impact in the following months sent prices falling as it seemed there would be an over supply, only for this to be corrected and balanced by the end of 2016. It that period prices fell from a pre-season price of €65.00 /kilo to a low of €45.00 /kilo. Following this year’s crop prices have already risen close to €100.00 /kilo as dependant end users fight to ensure they get their supplies.
Market prices Euro 100.00 /kilo+