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

For the new lemon campaign (2022/23), a reduction in production of more than 20% in lemons is expected, compared to the previous year, mainly due to climatic factors. The lemon crop is expected at 1.770 million metric tonnes (MMT). With fewer lemons this season, lemons allocated for processing will also decrease. The eradication of almost 6,000 hectares and limited management due to lack of resources – and, in some cases, direct abandonment, due to the bad results of the previous campaign – would be the main reasons for this reduction. Argentina is facing high inflation rates which is causing many challenges with the currency.

Argentine citrus fruits have been severely affected by changing weather conditions, where high temperatures have generated thermal stress, generating a sharp drop in fruit sizes. And harvest has to be delayed due to some late rains, in order for the fruit to take on a better size. Argentina allocates 70% of its lemons for processing. In recent years the world lemon industry has had an over-production and this tends to lower prices. This year, as there is less expected production in Argentina and having verified a drop in production in the northern hemisphere, there is expected to be an increase in values.

Meanwhile, mandarin production in Argentina is estimated at 320,000 metric tonnes (MT), which represents a large decline for the nation, as it once produced an average of 430,000 MT each year. This decrease has become considerably noticeable over the last two years due to severe droughts, which are still ongoing in the Northern and Central regions of Argentina. The government has declared a state of emergency in many provinces due to the lack of water.

Paramela Oil Adesmia Boronioides

This is a wild harvest of a native plant from Patagonia. Its oil is used for fine fragrances and cosmetics. It’s also used for sensitive skin formulations.

Pichi Pichi Oil Fabiana imbricata

Some niche perfumers discovered this ingredient and used it as an exotic source for innovation. Two new international perfumes using Fabiana obtained international prizes recently. Harvest season will begin next November.

Pinus Ponderosa Oil Pinus ponderosa Harvest: April, June

Obtained just from needles, production in 2023 will restart next August. Estimated volume of this oil for the rest of 2023 will be around 0.5 tonnes. Used mainly in aromatherapy (Pin de Patagonie in France), the interest in this conifer is growing also for fragrances.

Buddawood Oil Eremophila mitchellii Harvest: March - October

With an increase in demand, more timber is being collected with a possibility to ramp up oil production. Current supply is meeting demand.

Eucalyptus Oil Dives Eucalyptus dives Harvest: July - October

Golden Grove has commenced plantation establishment with greater production volumes to come online in 2024. There is consistent demand for the oil, but production is limited. With depleting stocks, the price of the oil has gone up.

Eucalyptus Olida Oil Eucalyptus olida Harvest: February - April

At present there is small production. Demand is steady but many customers are showing large interest. New plantation areas are being added that will increase production. This is a new product offering with methyl cinnamate concentration of 80 percent.

Kanuka Oil Kunzea ericoides Harvest: September - March

There is limited demand for this product. Raw materials are mostly harvested from the wild in remote areas. Production volumes are low. There is no stock available.

Lemon Myrtle Oil Backhousia citriodora Harvest: June - August

New crop has been established and is growing well. Both varieties of organic and conventional are available. Some growers are turning production back to crushed leaf culinary market due to slow demand.

Lemon Scented Tea Tree Oil Leptospermum petersonii Harvest: July - September

Plantations for this crop have been increasing in the northern NSW region. The coming season will have greater production volume.

Manuka Oil Leptospermum scoparium Harvest: All Year

Demand for this oil has been stable for some time. Oil production has not increased as a consequence. The quality available is +20% Manuka Beta Triketone (MBTK) . The oil price is also stable.

Sandalwood Oil Santalum spicatum Harvest: March - October

Since the last quarter a disruption in wood supply has been experienced. While market forecasts predict growth in the future, it may not be possible to sustain competitive prices in the long run. Price fluctuations should be expected. It is advisable to source alternate options. Better relationship dynamics with suppliers can also help limit future challenges.

Sandalwood Oil Album Santalum album Harvest: March - November

There is consistent availability of the product due to a good yield. Oil from matured plantations has been recently auctioned twice. This has led to a favourable market scenario driving growth and stability. To sustain this market dynamic, it is imperative to maintain a strong supply chain and secure the services of consistent and reliable sources.

Tea Tree Oil Melaleuca alternifolia Harvest: May - November

The Australian tea tree industry continues to recover from 2021 major flood events during which a large part of the crop was destroyed. The Industry estimates approximately 50 percent production capacity for 22-23. Demand has dropped and prices are stable. Farmers are unwilling to hold over the cost of production so it is best to re-assess the market situation for Australian tea tree in 12 months time.

White Cypress Oil Callitris intratropica Harvest: All Year

Production and processing capacity has been expanded. There is a consistent flow of oil stock and suppliers are willing to negotiate price on long-term contracts, though demand for the oil has reduced.

Orange Oil CP Citrus sinensis Harvest: July - December

The most recent Fundecitrus 2023–2024 orange forecast for Brazil’s citrus belt estimates a production of 309.34 million boxes (M. boxes) of oranges. The projected volume is 1.55% less than the previous crop, which totalled 314.21 M. boxes due to the alternate bearing phenomenon.

Fundecitrus reported that the weight of oranges has improved this year, as well as the overall rains in the citrus belt, with rains for the 2023–2024 crop being 50% above the historical average. Fundecitrus estimates the crop will start sooner this year due to the good conditions experienced during the flowering period. However, Asian citrus psyllid populations and citrus greening incidence continue to increase in Brazil.

The orange production forecast for 2023–2024 for the state of São Paulo and the western part of Minas Gerais includes:

• 56.11 M. boxes of Hamlin, Westin and Rubi
• 18.22 M. boxes of other precocious varieties
• 98.95 M. boxes of Pera Rio
• 105.23 M. boxes of Valencia and Valencia Folha Murcha
• 30.83 M. boxes of Natal

Average yield this crop season is estimated at 912 boxes per hectare, down slightly from last season’s 918 boxes per hectare. Average fruit per tree is down 4.9% this season, dropping from 668 in 2022–2023 to 635 in 2023–2024. An earlier and faster crop is expected this season, which favours fruit drop. The estimated fruit drop rate is 21%, similar to last season. The fruit drop rate is due in large part to the increase in citrus greening.

Brazilian exports of orange juice are on the rise in the current season. Between July 2022 and February 2023 Brazilian exports have been 14% more than during the same period the previous season. Revenue, however, has been 34% higher. The higher increase in the revenue than in the volume exported highlights the higher average price paid for the commodity exported by Brazil. While exports to the European Union have decreased 2% this season, exports to the USA have gone up 82% as compared to last season. USA’s high demand for the Brazilian juice is linked to the fact that the 2022-2023 orange season in Florida has been compromised by the high incidence of greening and natural disasters, such as hurricane and frosts.

Lavender Oil Lavandula angustifolia Harvest: July

A difficult economic dynamic has resulted in a fall in consumption levels. The market is witnessing overproduction of lavender oil. The next harvest cycle is in July, and a good crop is expected due to adequate rainfall. The carryover stock from the previous year is also available in abundance. All this has led to lavender farms being converted to wheat. The oil is being traded in the market at low levels.

Melissa Oil Melissa officinalis Harvest: July

The market for the oil is stable.

Rose Oil Rosa damascena Harvest: May - June

It is too early to predict yield and quality. Heavy rainfall has resulted in low temperatures. This is preventing the roses from blooming. Most companies have brought heavy stocks anticipating a rise in price due to the increasing price of rose petals.

Citronella Oil Cymbopogon winterianus Harvest: June - December

Oil has started entering the market, but collections are low. Farmers are unwilling to sell large quantities at low price. There is slight fluctuation in the price of the oil.

Eucalyptus Citriodora Corymbia citriodora Harvest: June - October

There are no fluctuations in the market.

Eucalyptus globulus Eucalyptus globulus

Since 2012, 10,000 MT of Chinese eucalyptus oil has been exported every year. Volumes of crude oil available for trade are low. This number was sustained mostly even during the COVID pandemic years. At present, the volumes of crude oil available for trade are significantly lower than previous years. This is because fewer people are distilling the oil due to the low price. People are expecting prices to fall further and are happy to use up the stocks then make fresh purchases. Demand for the oil is low, and this has seen a gradual decline in price. Farmers are unwilling to sell at this price.

Garlic Oil Allium sativum L. Harvest: April - May

There are no major fluctuations in the market.

Geranium Oil Pelargonium graveolens Harvest: May - September

The Guaiadiene content of new oil is approximately 4.7%. The ones produced by farmers is around 5.5%. Currently, the weather is hot and dry, which is not conducive for high content oil. Unlike previous years, high content oil will be available later in the year. Distillation process is on-going, but low output is being received since product content is low. The oil price is high and is expected to rise further. The market for the oil is stable.

Ginger Oil Zingiber officinale Harvest: January - April

Raw material availability has increased, though the price for the oil remains stable.

Litsea Cubeba Oil Litsea cubeba Harvest: July - September

The new season for the oil is about to commence and buyers are waiting for it. Suppliers with old stock looking to sell in the market will encounter losses. The market for the oil is reducing.

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

Oil dealers do not keep stock of star anise but make purchases based on demand and price. The oil inventory is with farmers who don’t sell themselves, but charge a premium.

Wintergreen Oil Gaultheria procumbens Harvest: July - September

There is enough stock to meet market demand. The oil output has fallen, and so has the demand.

Basil Oil Ocimum basilicum Harvest: March - October

The oil is available in limited quantities. This has resulted in a price rise.

Chamomile Blue Oil Matricaria chamomilla Harvest: March - May

Flowers were available in limited supply. The production season has also concluded. A sharp price rise has been witnessed.

Cumin Seed Oil Cuminum cyminum L. Harvest: May - June

There is heavy demand from the local and global market. The new production season has commenced, but currently there is limited supply of seeds, which has led to an increase in price. This price is expected to increase further.

Geranium Oil Pelargonium graveolens Harvest: June - July

There is a decent and consistent supply of oil in the market. Farmers are not content with the current price levels, so they are expected to increase soon.

Marjoram Oil Origanum majorana Harvest: August - September

Shortage of the crop, farmers’ reluctance to produce oil, and the high price of dried herbs resulted in a price rise.

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

There is a decent supply of product in the market.

Amyris Oil Amyris balsamifera Harvest: All Year

Shortage and high price of fuel, as well as the additional cost of ensuring safe passage of products to Port-au-Prince has resulted in high price levels.

Vetiver Oil Vetiveria zizanioides Harvest: February - May

Logistical challenges including increasing fuel costs and safe passage of products to Port-au-Prince has increased the oil price.

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

The yield this year is less than previous seasons. Due to unfavourable weather conditions farmers have moved to other stable crops and the area under pepper cultivation has reduced. Estimates for 2023 stand at 60,000 MT, which is less than last year. Export-led demand has declined, which has led to a reduction in price. If global demand increases, the price will witness an upward trend.

Cardamom Oil Elettaria cardamomum Harvest: September - December

Pre-monsoon rains have not impacted the crop. The area under cardamom plantations is expected to be the highest in the last 5 years. UAE and Saudi Arabia import almost 63% of India’s cardamom. April saw low volumes of cardamom hit the market. The price has remained mostly steady since April with a slight increase.

Cumin Seed Oil Cuminum cyminum Harvest: May - June

Heavy rainfall in Gujarat has resulted in loss of crop. There are limited stocks in the market and the acreage is also less. On the other hand, demand is extremely high. China alone has imported almost 54% of India’s cumin. High temperatures are unfavourable for cumin growth. A lot of seeds sown did not germinate due to the weather conditions. The carry forward stock from last year is about 60% less. Volumes produced are also declining. Till mid-April 150,000 bags of crop were received, which fell to 80,000 in the following month. This is because the area under cumin cultivation has reduced 5-10% because of low interest from farmers.

Davana Oil Artemisia Pallens Harvest: February - April

Due to heavy rain and hailstorms the harvest has been delayed by a month. This will impact the health and quantity of production. A loss of 30% crop is estimated with yield in the range of 6 MT per acre. Davana production mostly takes place in Karnataka and Andhra Pradesh in India. At present, the market is holding steady with buyers holding stocks of material. The price is down currently but is expected to rise in the future.

Ginger Oil Zingiber officinale Harvest: January - April

Harvest season is over and the yields this year are 15% lower than last year. Due to the high demand for green ginger, farmers are opting to stay away from dry ginger. This has reduced the supply of oleoresin quality ginger this year. Low carryover stock and yield have together contributed to an increase in price. There is expectation for the price to rise further.

Jasmine Sambac Jasminum sambac Harvest: March - October

The global jasmine extract market is experiencing a significant growth, driven by increasing demand from the personal care, cosmetics, and food & beverage industries. Jasmine extract has always been a key ingredient for the fine fragrance industry. However in recent times it is also gaining popularity as a natural flavouring agent in various food and beverage products, including tea, coffee, and desserts.

One of the prominent regions contributing to the market growth is south India, particularly known for its Madurai jasmine sambac. Lower-quality flowers from the final harvest are used for processing. Many processing companies are located in the Dindigul district, 30 km from Madurai. Jasmine flowers are processed to extract oils for perfume production. The recent jasmine harvest provided a low yield so prices of jasmine oil may increase.

Nutmeg Oil Myristica fragrans Harvest: June - August

This season production is higher than the last few seasons. Almost 40-50% more quantities of nutmeg BWP are flooding the market. And this trend is expected to continue till September. While the oil yield from the crops is currently good, it is expected to fall due to heavy rainfall in growing areas. The material arriving in the market now is laden with moisture.

Sandalwood Oil Santalum album Harvest: March - November

There are challenges in terms of sourcing and reliability due to the grey market. No new auctions have taken place recently and there is a lack of sustainable and transparent sources. This has all led to stagnancy in the Indian market for sandalwood oil. It is advisable to search for alternate sourcing options for sandalwood oil in India and engage in strategic partnerships with reliable suppliers.

Turmeric Root Oil Curcuma longa Harvest: March - May

About 130,000 MT of carryover turmeric spice stock from previous seasons is available in the market. Harvesting in most regions has been completed. Telangana received heavy rainfall towards the end of April, but fortunately the crop was not damaged. The southern states of Andhra Pradesh, Telangana, and Karnataka have received lower yields. The crop in Maharashtra has been a bumper one and should be able to compensate for the loss from other areas. After witnessing a downward trend in March and April, prices have started rising and the market is stable.

Cajeput Oil Melaleuca cajuputi Harvest: All Year

There are no fluctuations in the market for the product. Production volumes are decent and market price is stable.

Citronella Oil Cymbopogon winterianus Harvest: October - February

Limited demand has resulted in farmers switching to more lucrative options. The last three years have seen a stable price for the oil.

Clove Oil Eugenia caryophyllata Harvest: May - September

With leaves failing to dry completely, the quality produced in certain areas is low. This year, production levels are also down. With large exporters reducing prices, leaf oil prices have fallen.

Nutmeg Oil Myristica fragrans Houtt. Harvest: All Year

Indonesia is the world’s leading producer of nutmeg oil. This season the fruits have not dried completely, which will impact the yield. Current harvest is a result of last year’s rainfall. Supply is limited, while demand is high. This will result in an increase in the price.

Patchouli Oil Pogostemon cablin Harvest: All Year

Unfavourable weather conditions have led to low crop yields. The quality and quantity of oil supply has decreased. Considering the oil prices are rising, customers are in the market to purchase product.

Vetiver Oil Vetiveria zizanioides Harvest: January - July

Distillers tend to replace vetiver with seasonal crops providing better economic returns. The production volumes for vetiver are low, and prices are expected to rise.

Clove Bud Oil Eugenia caryophyllata Harvest: January - February

A global shortage is expected with most stock committed to orders. A cyclone has impacted production due to flooding of areas. The crop that survived is also low in quality with blackish and headless cloves. Some suppliers do have stocks of good quality harvest from November-December last year. Clove prices are witnessing an upward trend.

Lime Oil Citrus aurantifolia Harvest: May - August

Mexico’s lime production consists of three main varieties – Persian lime which is 52% of the production, Key lime is 42%, and lemons, which are referred to as limes in Mexico, are 6%. Total production and processing consist of all three. Mexico lime production in 2022/2023 is forecast down to 2.80 million metric tonnes (MMT). Although the area harvested and the number of bearing lime trees are higher than last year, the crop size is less due to lower yields as higher input costs reduce the use of fertilisers and pesticides. Lower available supplies reduce consumption, exports and fruit for processing.

Despite the fact that the main production season for Key limes has started in Mexico, the price for lime oil continued to increase to record high prices. Inflation only contributes to a smaller percentage of the price increase. Over recent years limes have been gaining popularity which has resulted not only in a huge increase in demand for the fresh fruit, but also contributed to the substantially higher price. These conditions have led to a significant decrease in the number of fruits for processing and therefore lime oil has soared to record high prices.

The vast majority of Mexico’s fresh fruit exports is shipped to the USA. However, Mexico has been unable to keep up with recent demand for fresh fruit. Mexico is still attempting to fulfil essential oils contracts from the 2021/2022 season, though weather conditions seem optimal for the upcoming Mexican peak season (May – July), which should hopefully bring some relief to the record high prices.

Cabreuva Oil Myrocarpus frondosus Harvest: All Year

There is a decent supply of the oil. Production volumes were good.

Guaiacwood Oil Bulnesia Sarmientoi Harvest: All Year

The ban on exports to the EU continues, though it is expected to be lifted in July. The oil will only be available after September, when the quota for 2023 is fixed.

Petitgrain Oil Citrus aurantium ssp. Harvest: All Year

There is decent supply of the oil. A major period of production has concluded, and good volumes were produced. Winter season is about to commence in Paraguay, and production reduces drastically during this season.

Grapefruit Oil Citrus paradisi Harvest: December - April

There is decent demand for the product in the market. Customers are interested in securing oil and concentrate.

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

There is an oversupply of lemon, due to plantings from 5 years ago bearing fruit now.

Orange Oil CP Citrus sinensis Harvest: June - September

There is heavy demand for oil and concentrate in the market.

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

The AILIMPO forecast for the 2022/2023 crop season currently estimates 1.011 million metric tonnes (MMT) of production, which is slightly lower from the previous season. This slight reduction is attributed to the excessive rainfall experienced during March and April, which is the vital flowering stage for lemon trees. Overall, the numbers are average for Spain’s year-on-year production.

The European lemon market is transitioning smoothly from Fino to Verna. After having extended the Fino campaign to the maximum, the Verna campaign finally begins, a unique variety that is only grown in Spain that allows the European market to be supplied with lemons of European origin from May to July. Due to the historical production deficit (256,000 MT expected, that is, -29% over the 2022 harvest), prices in the production phase show levels +5% above the average of the last four years. However, demand continues to be slow and very demanding with prices, so it is necessary to insist on the idea that the change from Fino to Verna means not only an improvement in the quality of the fruit, but also the possibility of continuing offering European consumers lemon with the guarantees of the European production system, and above all fresh (48 hours from the harvest until it reaches the supermarket).

In 2021, Spain produced an average of 1,453 MT of cold-pressed lemon oil, making it the 2nd largest producer in the world. The nation has over 50,400 hectares of lemon orchards, and 25-30% of all lemons produced in Spain go towards processing. Spanish lemon oil has experienced a small decline in recent months due to ongoing droughts in key producing regions, but the crop is well-positioned to make a recovery. The number of citrus trees increases with each passing year, and AILIMPO estimates that Spanish lemon production will increase by nearly 40% by 2026.

Cinnamon Bark Oil Cinnamomum zeylanicum Harvest: May - December

There was uninterrupted supply of distillation grade materials throughout the quarter. Due to constant rains, the cinnamon harvest season continued without the need to observe an off-season. Price is expected to hold stable.

Cinnamon Leaf Oil Cinnamomum zeylanicum Harvest: March - August

Several distillers have stopped production of the oil, since cost of production is higher than the price the oil is fetching in the market. There is low demand for the oil in key markets. While oil prices started easing in the 4th quarter, they have crashed now.

Citronella Oil Cymbopogon nardus Harvest: May - December

The difficult economic situation in Sri Lanka is discouraging local nutraceutical producers from placing significant orders. This has resulted in a reduced interest among producers. Over 100 distilleries were producing the oil in the southern region of Panamura, but this has fallen to less than 10. The supply of citronella is at an all-time low. The spurt in oil price is a result of this reduced supply.

Clove Bud & Stem Oil Eugenia caryophyllata Harvest: January - February

With the arrival of the new crop from the Maha season, raw material prices eased during mid-November 2022 and Q1 of 2023. With the value of local currency appreciating relative to the USD, trade for the oil has strengthened.

Nutmeg Oil Myristica fragrans Houtt. Harvest: February - May

Currently, only dried raw material is available in the market. Fresh crop became available mid-December 2022 and was exhausted by mid Q1 2023.

Oregano Oil Origanum vulgare Harvest: July - September

If favourable weather holds, the upcoming harvest volumes are expected to be in the range of 20,000 to 25,000 metric tonnes. Raw material carried forward from 2022 to 2023 is between 5,000 to 8,000 MT. Out of the 30,000 MT of raw material expected to hit the market, 55% will be pure oregano.

Grapefruit Oil Citrus paradisi Harvest: December - April

Latest forecast from USDA in June for all USA grapefruit production is 8.42 M boxes. This forecast consists of 1.82 M boxes for Florida (1.57 M boxes of red grapefruit and 250,000 boxes of white grapefruit), 4.20 M boxes for California, and 2.40 M boxes for Texas. The forecast is down 7% compared to last season’s final production mainly due to fruit drop caused by citrus greening and the high winds of Hurricane Ian in late September.

     USA ESTIMATED GRAPEFRUIT PRODUCTION 2019/2020 TO 2022/2023 FORECAST

                                                           (‘000 BOXES)

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

The June USDA USA total lemon production forecast for 2022/23 stands at 24.70 M. boxes. Arizona production stands at 1.70 M. boxes while the forecast for California production stands at 22 M. boxes.

                           USA ESTIMATED LEMON PRODUCTION 2019/2020 TO 2022/2023 FORECAST (‘000 BOXES)

Orange Oil Citrus sinensis Harvest: February - May

According to the USDA June 2023 forecast, total USA orange 2022-2023 production is estimated at 61.90 million boxes (M. boxes):

• 15.75 M. boxes for Florida, with 6.15 M. boxes of non-Valencia oranges (early, mid-season, and Navel varieties), and 9.60 M boxes of Valencia oranges
• 45.10 M. boxes for California, with 37.00 M. boxes of non-Valencia oranges (early, mid- season, and Navel varieties), and 8.10 M. boxes of Valencia oranges
• 1.05 M. boxes for Texas, with 700,000 boxes of non-Valencia oranges (early, mid-season, and Navel varieties), and 350,000 boxes of Valencia oranges.

USA total production is estimated down 24% compared to last season’s final production. Citrus growing region has experienced cold temperatures at the beginning of the bloom period causing widespread freeze damage to leaves, twigs and bloom in many groves. Dry weather followed leading to moderate drought in all areas. These unfavourable weather conditions caused the fruit set to be less and the fruit sizes to be smaller than most seasons.

Until 2015, oranges consistently made up over 70% of citrus production in the United States by volume. Since 2000, total domestic production of oranges has dropped 80%, from 300 M. boxes to a projected 62 M. boxes in 2023. The bulk of oranges, 84%, available for domestic consumption is used in juice, with most of the remainder being consumed fresh.

Particularly, all Florida production is estimated down 62% compared to last season’s final production. Many factors contribute to the decrease of orange production in Florida. Apart from severe weather conditions, which affects Florida during the hurricane season, citrus greening represents a huge impact on orange production. Citrus greening was first detected in Florida in 2005. Since 2005, orange production in Florida has dropped 90%, from 150 M. boxes to a mere 16 M. boxes expected in 2023.

Weather and plant diseases are not the only factors driving down citrus production in Florida. Demand for new housing, associated businesses and infrastructure has reduced the percentage of land dedicated to agriculture, rangeland and forestry. Between 2002 and 2017, the number of citrus growers in Florida decreased 62%, and the number of juice processing facilities decreased 66%.

Since Florida processes about 90% of their crop, the lower production volume will affect the global supply of juice and orange oil and other by-products. The orange oil price is on the increase not only due to the imbalance of demand and supply but also due to inflation and the increase of labour and maintenance costs of the groves and trees.

This year is expected to be the first in which California produces more oranges than Florida, with California expected to produce 45 M. boxes or 72% of all domestic oranges. Before 2014 Florida consistently produced over 70% of the nation’s oranges. California’s commercial citrus crop is geographically immune to the impact of South-eastern hurricanes and has been spared from citrus greening. Drought conditions, and more recently high-precipitation events, have pressured orange yields in California, though production has held steady between 40 million and 65 million boxes since 2000.

USA ESTIMATED ORANGE PRODUCTION 2019/2020 TO 2022/2023 FORECAST (‘000 BOXES)

The orange oil market remains firm, with strong demand and supply at historical low volumes. And until safety stocks are recovered it is unlikely that oil producers will be able to keep up with worldwide demand alongside other variables, including inconsistent weather and global events. Thus, price is on the increase, not only due to the imbalance of demand and supply, but also to inflation and to an increase in labour and maintenance of the groves and trees costs.