Market Report SPRING 2024


Welcome to the Spring edition of Ultra’s Market Report!

Browse and discover all the latest essential oils from growing regions around the world. In addition, our download version is packed with additional articles including fragrance trends for customers seeking sustainable solutions. Also featuring an article by an Ultra team member describing the smell of rain. We are very pleased to announce the opening of Atelier Ultra NY.

Digital version available. Click to DOWNLOAD and save it to your favourite pdf so you have everything you need to know offline and on the go!! 

Want to print this report page by page? Then click the PRINT button in the top left corner!


Boton de Oro Oil

Boton de Oro Oil Melampodium divaricatum

This oil returned to the market after an absence of a few years. It has an artichoke note. The harvest season for boton de oro concluded in December.

Market prices : USD 5750.00 /kilo
Douglas Fir Patagonia Oil

Douglas Fir Patagonia Oil Pseudotsuga menziesii

This variety is popular as the finest and most refined when compared with the ones produced in North America. The production process for 2024 is underway and will conclude in June. Estimated volumes of production for the year stand at 1 MT.

Market prices : USD 460.00 /kilo
Lemon Oil

Lemon Oil Citrus limon (L.) Burm. F. Harvest: May - July

Internal challenges in Argentina made the 2023 season very challenging for citrus producers and exporters. They had to contend with the worst drought in 94 years in Argentina, a heatwave, a currency crisis and a 102.5% year-on-year inflation increase that had seen a doubling in prices of most consumer goods at the start of last year. The period leading up to the general election was one of great uncertainty. Last year the Argentinian Government also declared a state of agricultural emergency for the main lemon production province of Tucumán.

The weather challenges caused a late start to the 2023 season while currency and exchange issues, due to the weak local peso, further complicated matters. However, there was some light at the end of the tunnel in 2023 for what seems to be one of Argentina’s citrus sector’s worst years. The first Argentinian organic lemons in 20 years were exported to Europe last season.

The country also has a new president in Javier Milei, who has started with sweeping reforms as promised in his election campaigns. The citrus industry said on several occasions it is still too early to tell what the impact of these new policies will be.

According to USDA, Argentina’s fresh lemon production is forecast up 3% to 1.9 million metric tonnes (MMT) due to favourable weather. Consumption is down while fruit for processing and exports are forecast higher with the increased supplies.

In production volume for lemon, Argentina continues to be number one. In 2021 and 2022 it was slightly above two million tonnes. The cluster centred in Tucumán has economies of scale. It employs about 50,000 people directly during the harvest and about 10,000 more outside of that period. In the last 15 years the country went from 35,000 hectares to 52,000 hectares planted, although in recent times there has been an adjustment due to the lack of profitability. Around 15,000 hectares have already been cleared, while another 12,000 are in a state of almost total abandonment. This situation is the direct consequence of the decrease in profitability in the activity, in many cases reaching zero or even generating losses. This panorama is aggravated by overproduction worldwide and with Argentine exports at a disadvantage compared to other international producers

Argentina covers between 65% and 70% of the global demand of derived lemon by-products (oil, juice, and peel). In addition, it is the main off-season exporter of fresh fruit, but in recent years it has been displaced from that place by South Africa. Argentina is the fourth largest exporter of fresh lemons in the world, behind Spain, South Africa, and Türkiye. These three countries each produce double the volume of Argentina. There is a significant growth in production that puts pressure on prices and affects profitability. Prices fell between 40% and 50% in the last five years and, although less, those of industrial derivatives also fell.

On average, the sector contributes foreign exchange of about US$600 million a year from sales abroad, but there is concern that withholdings continue. For about five years lemons have been going through a global crisis; there is an oversupply and prices have fallen sharply. Experts assure that it is a “temporary” problem but warn that it may endure for a long period of time.

The global crisis takes on its own characteristics in each country but with the common denominator of an oversupply of fruit, whose production has tripled in the last 25 years (with strong increases in players such as Zimbabwe, Mexico, and Türkiye).



Market prices : USD 12.00 /kilo
Paramela Oil

Paramela Oil Adesmia Boronioides

There are good volumes in stock. A new mobile distillation process has provided the opportunity to expand production.


Market prices : USD 6900.00 /kilo
Pichi Pichi Oil

Pichi Pichi Oil Fabiana imbricata

The harvest period for this medicinal plant is between December and January. The next cycle is expected to begin in November. Niche perfumers have discovered it as an innovative addition to their products.


Market prices : USD 4600.00 /kilo
Pinus Ponderosa Patagonia Oil

Pinus Ponderosa Patagonia Oil Pinus ponderosa

There is a growing interest for this oil from the fragrance industry. Production for this year has commenced and will conclude in June.

Market prices : USD 460.00 /kilo


Blue Cypress Oil

Blue Cypress Oil Callitris intratropica Harvest: All Year

Production and processing have expanded for this product. Demand is increasing for this vivid blue-colour oil as research is showing high anti-inflammatory values for this product. GGN is ready to secure long-term contracts.

Market prices : USD 288 /kilo
Buddawood Oil

Buddawood Oil Eremophila mitchellii Harvest: March - October

Timber is being collected and there is a possibility to ramp production if demand increases. In the current situation, supply is meeting demand.

Market prices : USD 456.00 /kilo
Kunzea Oil

Kunzea Oil Kunzea ambigua Harvest: September - January

The quality aspect for this product is well established and there is a consistent availability of material that meets stringent customer specification. Production continues on new plantations under harvest as well as wild harvested areas.

Market prices : USD 208.00 /kilo
Lemon Myrtle Oil

Lemon Myrtle Oil Backhousia citriodora Harvest: June - August

New crop has been established for this product and is doing well. Production is steady. Both conventional and organic oils are available.

Market prices : USD 328.00 /kilo (Conventional), USD 374.00 /kilo (Organic)
Nerolina Oil

Nerolina Oil Melaleuca quinquenervia Harvest: January - March

There is small production at present. The supply situation is expected to become better in the coming to near future. This is a new product offering from GGN with an enchanting, soft aroma along with slightly woody notes.

Market prices : USD 230 /kilo
Tea Tree Oil

Tea Tree Oil Melaleuca alternifolia Harvest: May - November

Demand for tea tree oil is low. Currently supply is meeting demand. Some farmers may not want to hold over the cost of production. In such cases there is a possibility that the crop is cut to the ground as mulch and the new crop is allowed to grow in order to give time to reassess the market situation.

Market prices : USD 29.00 - 33.00 /kilo


Orange Oil CP

Orange Oil CP Citrus sinensis

The Brazilian orange crop for the marketing year 2023/2024 is forecast at 408 million x 40.8 kg boxes (M. boxes), equal to 16.5 million metric tonnes (MMT). This is a reduction of 1.03% relative to the estimate of the current season due to the incidence of citrus greening, which has been affecting Brazil’s citrus belt, and unfavourable weather during the second bloom, resulting in a reduced fruit set.

The average fruit weight is expected to be 158 grammes as a result of unfavourable climate and diseases, with expectations of lower production and fruit quality.

Around 30% of Brazil’s orange production is destined for the market and 70% is used for juice processing. Brazilian orange juice is forecast down 2% to 1.1 MMT as fewer oranges are available for fruit for processing. Consumption is forecast unchanged while exports and stocks are down with the lower available supplies. Brazil is by far the largest producer and is projected to account for three-quarters of global orange juice exports.

Meanwhile, the third forecast for the 2023/2024 orange crop in the São Paulo and West-Southwest of Minas Gerais citrus belt, published in February 2024 by Fundecitrus, maintains the projection of 307.22 M. boxes of 40.8 kg each, unchanged in total volume from the previous forecast. This represents a reduction of 0.7% when compared to the initial forecast for the season. Of the total estimated production, approximately 27.76 M. boxes are expected to come from the Triângulo Mineiro region.

The forecast, by varieties, is:
• Hamlin, Westin, and Rubi: 58.09 M. boxes
• Other early season: 18.51 M. boxes
• Pera Rio: 97.62 M. boxes
• Valencia and Valencia Folha Murcha: 105.20 M. boxes
• Natal: 27.8 M. boxes

The projected fruit drop rate remains at 19% on average, considering all varieties.

Brazil has a total of 5,134 orange grove properties, most of them large producers with high productivity.

In the long term, the trend of the orange industry expanding outside the São Paulo and Minas Gerais area is likely to continue. In the state of Bahia, for example, greening disease does not exist due to the climate and the distance from the main region of the citrus belt.

Market prices : USD 16.00 /kilo


Lavender Oil

Lavender Oil Lavandula angustifolia Harvest: July

Compared to 2023, the first quarter of 2024 showed an increase in demand for the conventional variety of lavender. There is also good demand for the organic variety, and the price is holding firm.

Market prices : USD 49.00 /kilo
Melissa Oil

Melissa Oil Melissa officinalis Harvest: July

There are no fluctuations in the demand and supply dynamics.

Market prices : USD 1522.00 /kilo
Rose Oil

Rose Oil Rosa damascena Harvest: May - June

Buyers will look to stock the product as there is an expectation of a price rise after the next harvest cycle.

Market prices : USD 12894.00 /kilo


Cassia Oil

Cassia Oil Cinnamomum cassia

The use of cassia oil in flavouring has reduced. Between 2014 and 2023, cassia output reduced in China from 1,000-1,200 MT/year to 500 MT/year. There is limited stock in the market. The new crop cycle will only commence in May-June 2024. Since January the oil price has increased.

Market prices : USD 39.00 /kilo
Citronella Oil

Citronella Oil Cymbopogon winterianus Harvest: June - December

A drop in demand has reduced the price of this oil.

Market prices : USD 15.00 /kilo
Eucalyptus Citriodora

Eucalyptus Citriodora Corymbia citriodora Harvest: June - October

Due to the low price in the market, there is declining interest among farmers to distil this oil.

Market prices : USD 21.00 /kilo
Eucalyptus Oil

Eucalyptus Oil Eucalyptus globulus Harvest: July - October

Export volumes have been at their lowest during the past decade. A sharp decline of 7.3% has been observed compared to 2023. A supply shortage was observed prior to the Chinese New Year, which resulted in an increase in price. However, the market has stabilised after the holiday season.

Market prices : USD 13.00 /kilo
Geranium Oil

Geranium Oil Pelargonium graveolens Harvest: May - September

There is limited demand in the market. However, the oil price remains stable.

Market prices : USD 175.00 /kilo
Wintergreen Oil

Wintergreen Oil Gaultheria procumbens Harvest: July - September

There is limited demand in the market. This has led to a decrease in interest among farmers in distilling the oil compared to last year.

Market prices : USD 69.00 /kilo

Eastern Europe

Coriander Herb Oil

Coriander Herb Oil Corriandrum sativum L. Harvest: July - August

Limited quantities are available. Demand is expected to rise before the arrival of the new crop. This will impact the price. At present, the price is stable.

Market prices : USD 104.00 /kilo
Dill Weed Oil

Dill Weed Oil Anethum graveolens L. Harvest: July - September

Stock is getting over and there is no confirmation if it will last until the next cycle in autumn. The quality of the current crop is also average and not on par with that of last year.

Market prices : USD 55.00 /kilo
Fir Needle Oil

Fir Needle Oil Abies sibirica Harvest: November - December

The primary production period commences in June. Also, volumes from similar botanical origins produced in other countries are also available. The price is stable.

Market prices : USD 61.00 /kilo
Juniper Berry

Juniper Berry Juniperus communis L. Harvest: September - October

There is heavy demand for juniper berry from the spice market. The harvest season is ongoing and berries are still being plucked. While the quality obtained is decent, the water content in the berries is higher than the oil content. The price is stable and the same as last season.

Market prices : USD 290.00 /kilo
Laurel Leaf Oil

Laurel Leaf Oil Laurus nobilis

Stock is available. The market for the oil is stable.

Market prices : USD 185.00 /kilo
Origanum Oil

Origanum Oil Origanum vulgare Harvest: July - August

There is heavy demand for the oil. The crop was decent, the product is in stock, and the price is stable.

Market prices : USD 70.00 /kilo
Thuja Oil

Thuja Oil Thuja orientalis

There are no fluctuations in the market.

Market prices : USD 48.00 /kilo
Thyme Oil

Thyme Oil

The market for the oil is stable.

Market prices : USD 111.00 /kilo


Chamomile Blue  Oil

Chamomile Blue Oil Matricaria chamomilla Harvest: March - May

Chamomile harvesting has begun, with four distinct phases. The initial two rounds focus on drying for herbal teas, while the subsequent two prioritise extraction of essential oils. Prices remain elevated, indicating an approximately 10% increase compared to last year. Future price trends are uncertain, athough no further increases are expected for the remainder of the season.

Market prices : USD 1225.00 /kilo
Cumin Oil

Cumin Oil Cuminum cyminum L.

The shortages experienced in the past two years are expected to alleviate slightly in the upcoming months, likely following the April or May season. While the crop condition seems satisfactory, the key factor impacting oil prices remains the importation of seeds. Notably, the seeds used in Egyptian cuisine are not domestically sourced but imported. Egyptian cumin, renowned for its high yield in essential oil production compared to other origins, is redirected for culinary use when imports face disruptions. This shift places significant strain on the market dynamics and cost structures.

Market prices : USD 150.00 /kilo
Geranium Oil

Geranium Oil Pelargonium graveolens Harvest: June - July

A shortage of geranium is projected from now until the new season in June. The plantations for the current season in June are adequate, and a production is expected of around 200 MT. Things appear to be stable in the long run.

Market prices : USD 69.00 /kilo
Neroli Oil

Neroli Oil Citrus aurantium var. amara Harvest: March - April

The market began stabilising with Egypt’s production of approximately 2.5 MT of neroli oil. A stable market with a fair price is expected.

Market prices : USD 920.00 /kilo


Cardamom Oil

Cardamom Oil Elettaria cardamomum Harvest: September - December

The market has experienced significant fluctuations since the start of the harvest, with prices changing frequently – on a daily or weekly basis.

There is an anticipated decrease of 40% in crop yield compared to the previous year’s record high volume. This reduction is unprecedented, as previous fluctuations in yield never exceeded 10%.

The decrease in yield is attributed to a drought at the beginning of the harvest, the full impact of which was unforeseen. While the decrease in volume could have been mitigated by carry- over stocks, the main driving factor behind price fluctuations is the poor quality of the crop. Specifically, there is a shortage of high-quality, green lots, which are in high demand among exporters in the spice market.

Additionally, the quality of oil production is also subpar, resulting in inconsistent yields. Coupled with daily price fluctuations, this makes it challenging to make competitive offers.

Recently, there was a slight decrease in price as spice exporters stopped purchasing low- quality lots, which was considered positive news.

However, the market remains highly volatile, prompting consideration of hedging strategies to mitigate risk.

Market prices : USD 396.00 /kilo


Black Pepper Oil

Black Pepper Oil Piper nigrum L.

Compared to last season, raw material availability is low. Buyers are relying on stock from last season. While the price is holding steady for the moment, it will increase once demand picks up.

Market prices : USD 42.00 /kilo
Cardamom Oil

Cardamom Oil Elettaria cardamomum Harvest: September - December

Changing weather conditions in growing areas could impact production. It is a busy season in South India. At present, the price is holding steady. However, producers are closely monitoring the situation for future yield and price fluctuations.

Market prices : USD 317.00 /kilo
Cedarwood Oil Himalayan

Cedarwood Oil Himalayan Cedrus deodara

This oil is only extracted from the stumps and roots of the Himalayan cedarwood tree. The forests are now protected, the cutting of trees is illegal, and oil distillation is not permitted from the leaves and bark. State governments have now instituted a practice where private companies can harvest the roots of trees which have previously fallen, provided they plant three or four new saplings. Cedarwood oil production has constantly been on the rise in India. The price of the oil has fallen in the last few years due to the depreciation of the Indian rupee in comparison to the dollar.

Market prices : USD 13.00 /kilo
Citronella Oil

Citronella Oil Cymbopogon winterianus

It is advisable to keep the product in stock. Farmers are shifting their focus towards other crops like cotton and rice. This has led to a scarcity of raw materials. The oil price is rising constantly.

Market prices : USD 20.00 /kilo
Clove oil

Clove oil Syzygium aromaticum

There is a limited supply of raw materials in the market. Though the demand for clove is substantially high. The new season has begun, and prices are increasing.

Market prices : USD 61.00 /kilo
Davana Oil

Davana Oil Artemisia Pallens Harvest: February - April

Leftover stock from last season is still in circulation. The harvest season is underway in south India, though the crop has lower davanone content compared to last year.

Market prices : USD 696.00 /kilo
Ginger Oil

Ginger Oil Zingiber officinale Harvest: January - April

Demand for ginger is growing and raw material is scarce. The harvest season has concluded in South India. This demand- supply fluctuation has resulted in the prices of some ginger products, like oleoresin and oil, rising.

Market prices : USD 98.00 /kilo
Lemongrass Oil

Lemongrass Oil Cymbopogon citratus Harvest: July - November

There is limited demand for the product. Unfavourable weather conditions have impacted production. Yield in this harvest cycle has been low. Currently, the oil price is holding steady.

Market prices : USD 17.00 /kilo
Mace Oil

Mace Oil Myristica Fragrans

Unfavourable weather conditions have impacted the availability of raw materials. This could lead to a rise in the price of mace products.

Market prices : USD 166.00 /kilo
Nutmeg Oil

Nutmeg Oil Myristica fragrans Harvest: June - August

A 10-20% shortage of raw material is expected due to the early onset of summer. This has impacted plantations and could see a rise in prices. At present, the market price is favourable for buyers.

Market prices : USD 49.00 /kilo
Palmarosa Oil

Palmarosa Oil Cymbopogon martini Harvest: January - June

Oil is in stock, and raw materials are available. The price of the oil is holding steady.

Market prices : USD 35.00 /kilo
Turmeric Oil

Turmeric Oil Curcuma longa

Raw material availability is low. Though the demand for turmeric oil is stable. The harvest season lasts from January to May. At present, the price of the oil is stable.

Market prices : USD 46.00 /kilo


Citronella Oil

Citronella Oil Cymbopogon winterianus Harvest: October - February

Unfavourable weather conditions have resulted in low production volumes. Farmers also shift crops with a reduction in price. The last couple of months have witnessed a surge in demand.

Market prices : USD 16.00 /kilo
Clove Leaf Oil

Clove Leaf Oil Syzygium aromaticum

Multiple refineries have reduced distilling operations. This is due to the low yield, which impacts oil quality. Rainfall in major producing areas in Java and Sulawesi impacted the crop. The oil price is increasing, and this trend is expected to continue.

Market prices : USD 15.50 /kilo
Nutmeg Oil

Nutmeg Oil Myristica fragrans Houtt. Harvest: All Year

Indonesia is the largest producer of nutmeg, although production challenges have plagued the country in recent times. The major producing regions, Sumatra and Java, are witnessing declining quality levels due to climate change. This has resulted in a declining nutmeg harvest, with farmers shifting to other crops. The largest producing region of nutmeg in Indonesia is Sulawesi. However, as nutmeg is more popular as a spice than an oil, farmers tend to harvest old nutmeg seeds rather than young ones, which are needed for oil production.

Market prices : USD 78.00 /kilo
Patchouli Oil

Patchouli Oil Pogostemon cablin Harvest: All Year

A long period of drought last year and low prices fetched by patchouli saw many farmers shift to other crops. This has resulted in a supply shortage. The next harvest cycle will only commence in the middle of the year. The situation is expected to stabilise by the end of 2024.

Market prices : USD 83.00 /kilo


Bergamot Oil

Bergamot Oil Citrus bergamia Harvest: November - March

There is carry-over stock from last year. But the crop was 20% less than expected. There are no fluctuations
in price. It is maintaining the same level as last year.

Market prices : USD 233.00 /kilo
Mandarin Oil

Mandarin Oil Citrus reticulata Harvest: February - May

There is limited product available in the market. The current crop cycle also saw a 30% drop in volume compared to last year. The next crop cycle will only commence in October. Price has increased due to limited supply.

Market prices : USD 64.00 /kilo


Lime Oil

Lime Oil Citrus aurantifolia Harvest: May - August

Mexico lime production is forecast 5% lower at 3.0 million metric tonnes (MMT) as growers expect citrus greening to affect the yields. Lime production is also expected to fall in Michoacan and Colima states due to less stability in the supply chain, including security concerns in some growing areas.

Consumption and exports are lowered due to the reduced supplies. The United States is expected to continue to account for nearly all of Mexico’s exports.


Market prices : USD 97.00 /kilo


Clary Sage Oil

Clary Sage Oil Salvia sclarea L.

Stock is available as the crop was good. The price is stable.

Market prices : USD 119.00 /kilo
Fennel Oil

Fennel Oil Foeniculum vulgare Mill

Moldova had a good crop. The oil price is stable and is being negotiated based on quantities sold.

Market prices : USD 70.00 /kilo
Lavender Oil

Lavender Oil Lavandula angustifolia

The quality resembles its Russian counterpart and it is cultivated in Moldova. There are no fluctuations in price.

Market prices : USD 38.00 /kilo

New Zealand

Manuka Oil

Manuka Oil Leptospermum scoparium Harvest: April - October

New research has revealed the effectiveness of manuka oil in alleviating skin inflammation, soothing irritation, and enhancing overall skin health. This presents future opportunities for manuka as a key ingredient in skincare products, offering defence against inflammation and UV-induced damage.

Market prices : USD 755.00 /kilo


Cabreuva Oil

Cabreuva Oil Myrocarpus frondosus Harvest: All Year

There are no supply fluctuations with good quantities in stock.

Market prices : USD 46.00 /kilo
Guaiacwood Oil

Guaiacwood Oil Bulnesia Sarmientoi Harvest: All Year

Production was decent and oil is in stock.

Market prices : USD 29.00 /kilo
Petitgrain Oil

Petitgrain Oil Citrus aurantium ssp. Harvest: All Year

Oil is in stock. The production period will continue until May. Good volumes have been produced and supply should not be an issue during the months of June-August, once production concludes.

Market prices : USD 76.00 /kilo

South Africa

Buchu Leaf Oil

Buchu Leaf Oil Agathosma betulina Harvest: February - March, October - November

Winter rainfall is essential for buchu. Weather forecasts predict a dry winter to begin with and rainfall is expected in the second half of winter. Currently, the hot and dry weather conditions have resulted in wildfires, which have affected the harvest. Production volumes for both varieties, Agathosma betulina and Agathosma crenulate, have reduced.

Market prices : USD 1107.00 /kilo


Lemon Oil

Lemon Oil Citrus limon (L.) Burm. F. Harvest: November - July

The 2023-2024 campaign is proving challenging for Spanish lemons, with prices at the edge of profitability. This year has seen a trend change in the production available in Spain, with an increase of around 35% in the supply compared to the previous campaign. According to the forecast published by Ailimpo at the start of the campaign, this season’s production in Spain is expected to reach 1.365 million metric tonnes (MMT) and even exceed the 1.300 MMT of the 2018/2019 season.

The lemon market remains under pressure at origin due to the increase in the harvest of Fino lemons. The market demand is unable to absorb the harvest, so there is still a significant number of lemons on the trees. Moreover, the higher number of fruits per tree and the alarming lack of rainfall have resulted in a predominance of small calibres, below size 58, which are not as appreciated in the market.

Eyes are now turning to the Verna lemon campaign, for which the harvest is expected to start earlier, considering the quality and high discard rate of the Fino lemons. Forecasts point to a long Verna  campaign, with limited room for southern hemisphere lemons this summer.

After several years with low harvests, the production of Verna lemons is expected to be about five times larger this year. Prices are not expected to recover with the arrival of the Verna, given the large production, but the campaign is expected to last at least until the end of July. South Africa and Argentina will face significant challenges in supplying lemons to Europe at the beginning of this summer, as there will be enough Spanish lemons.

The production is high not only in Spain. Other countries that compete with Spain, like Türkiye, also have large volumes this campaign after several years of low harvests, and Italy, Greece, and Egypt also have a greater supply. For this reason, although the demand for lemons is at the usual level, the large supply in the markets keeps pushing prices down.

Spain is the world leader in organic lemons. Spanish lemon producers champion organic farming not only in the European Union but Spain has become the world leader in organic cultivated areas ahead of Italy, Argentina, and the United States. This in turn allows the Spanish sector to be a benchmark in the marketing of organic lemon, juice, and essential oil.

The area of organic lemons in the world reached 29,301 hectares in 2022, of which 11,509 hectares were located in Spain, which means that 40% of the organic lemons produced in the world come from Spain.

Market prices : USD 14.00 /kilo

Sri Lanka

Black Pepper Oil

Black Pepper Oil Piper nigrum L. Harvest: December - February

The product is available after the December harvest and in anticipation of the upcoming April harvest. Prices are stable.

Market prices : USD 50.00 /kilo
Cinnamon Bark Oil

Cinnamon Bark Oil Cinnamomum zeylanicum Harvest: May - December

During the off-season, the harvest is temporarily suspended until the dry season concludes and the trees have progressed past the flowering stage. Despite this pause in harvesting, the product remains readily available at its source, and demand remains stable. As a result, prices are maintained at consistent levels throughout the off-season.


Market prices : USD 230.00 /kilo
Cinnamon Leaf Oil

Cinnamon Leaf Oil Cinnamomum zeylanicum Harvest: March - August

The off-season is currently underway, and harvesting will recommence once the dry season concludes, and the trees have completed the flowering stage. The product is only available in limited quantities at the source, but demand is steadily increasing. As a result, prices remain stable and firm throughout the off-season.

Market prices : USD 24.00 /kilo
Citronella Oil

Citronella Oil Cymbopogon nardus Harvest: May - December

Only a few farmers have maintained the supply of the product and culture. The availability is limited, and prices are firm.

Market prices : USD 23.00 /kilo
Clove Bud Oil

Clove Bud Oil Eugenia caryophyllata Harvest: January - February

Regarding clove and clove bud as raw materials, there has been a notable uptick in demand, not just in Sri Lanka, but also in other producing regions. Additionally, the recent crop in Sri Lanka (December, January) yielded limited availability. Consequently, prices have remained firm.

Furthermore, the local currency has been strengthening over the past few months, which
has contributed to export prices remaining steady.

Market prices : USD 92.00 /kilo


Grapefruit Oil

Grapefruit Oil Citrus paradisi Harvest: December - April

The latest forecast from USDA in March for all USA grapefruit production is 8.350 M boxes – over 3.5% up from the previous season. This forecast consists of 2.20 M boxes for Florida (1.90 M boxes of red grapefruit and 300,000 boxes of white grapefruit), 3.80 M boxes for California, and 2.35 M boxes for Texas.

Market prices : USD 52.00 /kilo
Lemon Oil

Lemon Oil Citrus limon (L.) Burm. F. Harvest: May - July

Lemon production, 95% of which is supplied by farms in California, is expected to decrease by 25% in 2023-2024 compared to final production in 2022-2023. The March USDA USA total lemon production forecast for 2023-2024 stands at 20.90 M boxes. Arizona production stands at 900,000 boxes, down from 1.40 M. boxes final production in 2022-2023. The forecast for California production went down from 26.5 M boxes in the 2022-2023 season to 20 M boxes.

Market prices : USD 25.00 /kilo
Orange Oil

Orange Oil Citrus sinensis Harvest: February - May

According to the USDA March 2024 forecast, total USA orange 2023-2024 production is estimated at 66.750 million boxes (M. boxes), an 11% increase from final production in the 2022-2023 season:

  • 19.80 M boxes for Florida, up 25% compared to last season’s final production, rebounding from Hurricane Ian damage the year before, with 6.80 M boxes of non-Valencia oranges (early, mid-season, and Navel varieties), and 13.0 M boxes of Valencia oranges;
  • 46.00 M boxes for California, up 6% compared to last season’s final production, with 38.00 M boxes of non-Valencia oranges (early, mid-season, and navel varieties), and 8.00 M boxes of Valencia oranges; and
  • 950,000 boxes for Texas, with 600,000 boxes of non-Valencia oranges (early, mid-season, and navel varieties), and 350,000 boxes of Valencia oranges. 

USA orange juice production is forecast to rebound nearly 30% to 110,000 MT due to a rise in oranges available for processing, especially in Florida. Consumption is forecast flat while imports are down with the higher production.

Market prices : USD 18.00 /kilo


Basil Oil

Basil Oil Ocimum basilicum L. Harvest: November - February

It is advisable to place purchase orders in advance this year. High levels of dew have resulted in the loss of crops. This has also delayed the planting schedule by a month. As a result, basil oil production will also be

Market prices : USD 166.00 /kilo
Cassia Oil

Cassia Oil Cinnamomum cassia Harvest: July - December

Improving weather conditions are expected to drive more product into the market. New crop has arrived in the market and demand for the product is strong.

Market prices : USD 39.00 /kilo
Star Anise Oil

Star Anise Oil Illicium verum Harvest: March - May, November - December

The crop in China was good and they are offering varieties for cheaper than the Vietnamese product. If demand from importing markets such as India remains low, prices will fall further. The new crop season has commenced, and prices are witnessing a downward trend.

Market prices : USD 63.00 /kilo