Douglas Fir Oil Pseudotsuga menziesii Harvest: March - April

It is a popular product in the aromatherapy and fragrance industry due to its fresh, citrus notes. The Argentine variety is considered unique and is more refined than those produced in North America. Needles of the plant are the only source to obtain the oil.

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

The Argentine citrus sector is facing new problems after the delay in the start of the 2023 season due to drought, with the country facing the worst inflation in the world, above 100%, and currency problems. Despite these challenges, producers say they have long-term investments and commitments to keep and will continue to supply world markets. Although the Argentine government declared a state of agricultural emergency for the main lemon-producing province, Tucumán, growers and exporters say they are trying to do everything possible to “endure and survive the hard period” the country is going through. Argentina had some rains in April, but growers say it came too late to improve the size of the early citrus that was ready for harvest. “Currently, small-sized fruits predominate. We are expected to export a smaller volume to the United States. Europe continues to be the largest recipient of Argentine fruit. Market prices should improve. For now, we will only carry out programmes with organic lemons.” The much weaker currency against the dollar and rising inflation of 108.8% year-on-year in April 2023 have more than doubled the prices of most consumer goods. Earlier this week, the Argentine government announced the lifting of import tariffs in order to import more food and make it more affordable for people. Interest rates were also increased to 97%, the highest in the world, to help curb rising inflation, but it will take time to kick in to the system. Experts aren’t sure this aggressive rate hike will work either. The state of agricultural emergency for Tucumán lemons, according to the website of the main Argentine citrus entity, FederCitrus, is intended to alleviate fiscal pressure for one year. The factors that have led to the declaration are said to be due to increased citrus production from Uruguay and South Africa. According to the July USDA lemon forecast, Argentina is expected to produce 1.650 million metric tonnes (MMT), around 7% less than the previous forecast of 1.770 MMT. With fewer lemons this season, lemons allocated for processing will decrease to 1.323 MMT, and exports to 200 MMT.

Paramela Oil Adesmia Boronioides

The plant is native to Patagonia and is wild harvested. A novel distillation process has been adopted to enhance production volumes. The oil thus produced is used in fine fragrances and cosmetic formulations for sensitive skin. Projected production volumes for the product are 200- 300 kg annually.

Pichi Pichi Oil Fabiana imbricata

Harvest season for the plant will resume in November 2023. Recently, two perfumes with Fabiana as the core ingredient won international awards. Its popularity among niche perfumers has seen the market for the oil increase. Obtained via wild harvesting, the product has witnessed an increase in production volumes, touching 50-100 kg in the last year.

Pinus Ponderosa Oil Pinus ponderosa Harvest: April, June

Due to the anisic note of Pinus ponderosa, there is a growing interest for the product in the fragrance market. Currently, its primary consumer is the aromatherapy industry. The oil is obtained from the needles of the conifer.

Senecio Neaei Oil Senecio vulgaris

The harvest season will resume in November. Production volumes are expected to hold steady at 50 kgs. After missing out for a few years, Senecio has returned to the market with a demand from specialised perfumers. The oil is used in niche fragrances for its herbal, woody, camphorlike scent.

Eucalyptus Olida Oil Eucalyptus olida Harvest: February - April

This is a new product offering with methyl cinnamate concentration of 80 percent. Many customers specially from the fine fragrance industry are showing large interest. At present there is small production but new plantation areas are being added.

Kanuka Oil Kunzea ericoides Harvest: September - March

Raw materials are mostly harvested from the wild in remote areas. Currently there is no stock available

Lemon Myrtle Oil Backhousia citriodora Harvest: June - August

Demand for oil is limited. Some producers are concentrating on meeting the demand for crushed leaf culinary herb. Both organic and conventional varieties are available. Price is stable.

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

There has been steady demand for this product. Supply is meeting the stable demand requirement.

Santalum Album Oil Santalum album

There is consistent availability of this product. Market scenario is favourable driving growth. It is important to consider well reputed suppliers for this product.  

Santalum Spicatum Oil Santalum spicatum

Oil in stock is limited. While market forecasts predict growth in future it may not be possible to sustain competitive prices in the long run.

Tea Tree Oil Melaleuca alternifolia Harvest: May - November

Demand for tea tree oil from Australia has been low. It has been known that a very large quantity of the crop was destroyed due to the floods in 2021. The tea tree industry continues to recover from this loss. Arrival of new origins has changed the market dynamics.  

Orange Oil CP Citrus sinensis Harvest: July - December

The orange output in the citrus belt in southeastern Brazil (São Paulo and the Triângulo Mineiro) in the 2023/2024 season is estimated at 309.34 million boxes of 40.8 kg each. This volume is 1.5% lower than that harvested last season. The major reasons for the lower harvest are rains above the historical average (although they have favoured both the vigour of trees and fruits growth, rains raised flower rotting), the negative biennial cycle (except for northern SP, where productivity was lower last season), lower blooming for some late varieties (whose harvesting was delayed and/or production was high in 2022/2023) and the higher incidence of greening, which is expected to raise the rate of fruit fall. On the other hand, high moisture may favour fruit weight, which may be the highest since 2017/2018. As for productivity, the average forecast for the citrus belt is at 918 boxes per hectare, a slight 0.6% up from that in the 2022/23 season. Brazilian concentrated orange juice (OJ) production is projected at 1.138 million metric tonnes (MMT) of 65 Brix product, an increase of 12% over the prior season. The São Paulo industry is expected to process 278 M. boxes as OJ; 197 M. boxes for frozen concentrated orange juice (FCOJ) and 80 M. boxes for not from concentrate (NFC). Brazilian FCOJ exports are forecast at 1.04 MMT, a slight increase of 30,000 MT over the prior season. The European Union remains the major destination for Brazilian OJ, taking approximately 64% of Brazil’s OJ shipments. Brazil’s primary citrus region recorded a significant increase in the average number of HLB-spreading psyllids captured in the first half of August compared to the previous fortnight and the same period of 2022. In the citrus belt of São Paulo and Triângulo/ Sudoeste Mineiro, there was an average growth of 80.4% in the capture of psyllids in the last fortnight compared to the previous one. Compared to the same period last year, the increase is 53.2%. As the psyllid population grows, it directly affects the frequency and severity of citrus greening within citrus orchards. There are numerous contributing factors to these recent infestations, though one of the most prevalent is the current strategy behind the use of insecticides. To remedy this issue, Fundecitrus recommended that citrus farmers in Brazil begin rotating the modes of action of insecticide, apply new insecticides more thoroughly to their plants, and remain consistent in their pesticide applications to ensure the insects are not allowed to reproduce within orchards.  

Lavender Oil Lavandula angustifolia Harvest: July

Large portions of lavender fields were destroyed due to unfavourable weather conditions. June witnessed constant rainfall and cold weather, which delayed the harvest by two weeks. However, the market is holding steady due to carryover stock from last year. The lower quantities produced in 2023 in comparison to 2022 have not impacted the availability of the product.  

Melissa Oil Melissa officinalis Harvest: July

This harvest cycle has produced lower quantities as compared to 2022. Constant rains and cold weather delayed the harvest by several weeks.  

Rose Oil Rosa damascena Harvest: May - June

Yield and harvest have been disappointing this year. Lower quantities have been produced as opposed to a regular cycle. Harvest was also delayed by a couple of weeks, due to a lengthy rain period and cold weather conditions. In comparison to last year, the price of rose products is on the rise due to an increase in the price of the flower. The price of rose flowers has increased 30% as compared to 2022 and doubled compared with 2021. Companies are trying to regulate this price by decreasing production costs via fuel, electricity, and energy consumption. 

Citronella Oil Cymbopogon winterianus Harvest: June - December

There is limited supply of the oil. Demand for the product has witnessed a constant decline, which has resulted in prices falling. 

Eucalyptus Oil Eucalyptus globulus Harvest: July - October

Export volumes shot up substantially in June as compared to May. This is the highest quantity exported this year since January 2023. Prices are expected to be stable.  

Geranium Oil Pelargonium graveolens Harvest: May - September

Extremely small quantities of the oil are being traded in the market. Demand is also weak, though prices are holding steady.  

Litsea Cubeba Oil Litsea cubeba Harvest: July - September

Suppliers have stock in hand. Fresh production has also commenced. Oil price is holding steady.

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

Suppliers are not keeping oil in stock and only procuring materials as per demand. At present the market for the product is weak. Farmers control the market and are unwilling to sell at the current price. Distillation process will pick up steam once new leaves are collected around October. 

Wintergreen Oil Gaultheria procumbens Harvest: July - September

Compared to 2022, the volumes being traded are significantly lower. Low demand has discouraged farmers from distilling oil. Price has gone down as well.  

Amyris Oil Amyris balsamifera Harvest: All Year

Customers invariably require a special oil composition with specific optical rotations and terpene content, which necessitates further fractionation. One major company has sizeable stocks of pure amyris terpenes with an optical rotation of -18 to -20, which has a range of olfactive and medicinal uses, but as yet has not found a market

Basil Oil Ocimum basilicum Harvest: March - October

Low production and as a result limited supply have led to an increase in oil price.  

Chamomile Blue Oil Matricaria chamomilla Harvest: March - May

Last March low volumes were produced. That is impacting the quantities available for supply at present.  

Coriander Herb Oil Coriandrum sativum L. Harvest: January - February, June - July

Lower production has led to an increase in price.

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

Due to increased local consumption, higher export and limited availability, price of seed has increased sharply. The trend is expected to continue till May 2024. Price is expected to increase.

Geranium Oil Pelargonium graveolens Harvest: June - July

Volumes are lower than last year at the conclusion of the production cycle. This unsatisfactory result has led to an increase in price.  

Jasmine Absolute Jasminum grandiflorum L. Harvest: June - November

Good supply of oil in the market. Prices are stable.  

Parsley Leaf Oil Petroselinum crispum Harvest: April - May

There is limited supply of the oil in the market. It is being offered based on actual demand.  

Violet Absolute Oil Viola odorata Harvest: December - May

There is decent supply in the market. Product is being offered as per the demand.  

Vetiver Oil Vetiveria zizanioides Harvest: February - May

Logistical challenges including increasing fuel costs is making it more and more difficult to export product from Haiti. Prices are increasing and it is very hard to obtain good quality material. Some material is available in stock in the USA.

Ajowan Seed Oil Harvest: January - March

The demand and supply are balanced, and the market is steady. Unless demand increases, the price level will hold.  

Basil Oil Holy Ocimum sanctum Harvest: November - February

There is abundant supply of the oil, and the market is expected to stay stable, though fluctuations in demand can impact this symmetry. The harvest season for basil lies between December and March. The next harvest cycle is expected to commence soon, and the crop appears stable.  

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

A consistently growing domestic demand has resulted in a 20% increase in black pepper prices. This could have an impact on the prices of black pepper oil. 

Cardamom Oil Elettaria cardamomum Harvest: September - December

Low rainfall and drought-like conditions have impacted the production of cardamom. The resulting supply shortage has led to an increase in price. The primary harvest season for cardamom is between July and August. Due to the persisting unfavourable weather, price of cardamom is expected to stay high for the time being.  

Citronella Oil Cymbopogon winterianus

Production has commenced in major markets. The price is expected to hold steady in the short term.  

Clove Bud Oil Eugenia caryophyllata Harvest: January - February

Constant demand for the oil is expected in the coming months. The market is stable with prices holding firm.  

Coffee Arabica CO2 Coffea arabica L. Harvest: November - January

Demand for arabica coffee has witnessed an increase and the trend is expected to continue. This has resulted in an increase in price.  

Cornmint Oil Mentha arvensis Harvest: May - July

Lands utilised for sowing saw a decrease in 2023, making it an economically unviable option for farmers. At present the oil is priced at a five-year low. Low demand and mounting cultivation costs are a few of the factors leading to a low product price. This could impact the decision of farmers to sow the crop in the future.  

Cumin Seed Oil Cuminum cyminum Harvest: May - June

Supply is expected to be low due to unfavourable weather conditions. The stocks are reducing as well, and there is an increase in domestic and overseas demand from Bangladesh, UAE, and China due to the festive season. All these factors will lead to an increase in cumin seed oil price.  

Davana Oil Artemisia Pallens Harvest: February - April

The oil is collected from flowering tops and the process is undertaken during the months of September and October. There is sufficient supply of oil, and producers generally maintain a surplus. This will ensure a stable market dynamic. Any deviations in demand or production could offset this balance. 

Frankincense Oil Boswellia serrata

The crop is looking good and there is consistent supply of oil. The harvest period for frankincense commences in August and concludes in November. There is a good stock of both resin and oil, resulting in stable prices.  

Ginger Oil Zingiber officinale Harvest: January - April

The harvest season of ginger commences in September. A slow demand for the product has kept the prices in check. While they are expected to hold firm for the time being, post the harvest season, demand-supply dynamics will determine the volatility.  

Jasmine Absolute Jasminum grandiflorum L. Harvest: June - November

The harvest season for jasmine lies between March and October, though the months of April, May, and June experience the peak of production. At present, the price for the oil is holding firm.  

Lemongrass Oil Cymbopogon citratus Harvest: July - November

The latest harvest has delivered a satisfactory crop. There are multiple periods of lemongrass harvest annually. The next cycle falls in September. In the short term, prices are expected to hold firm, though the forecast predicts a bearish outlook.  

Nutmeg Oil Myristica fragrans Harvest: June - August

There is a shortage of supply in the market and the same is expected to persist till the next harvest cycle. Harvest season of nutmeg in India begins in March and concludes in May. Post the harvest season, prices have been on the rise, and the trend is expected to remain till the next cycle in March.  

Palmarosa Oil Cymbopogon martini Harvest: January - June

There is limited carryover stock from last season. With harvests scheduled every 3-4 months, there is consistent supply of palmarosa oil. There is also a forecast of increased production. All this leads to a stable price dynamic.

Peppermint Oil Mentha piperita Harvest: April - July

Demand for the oil is witnessing a downward trend. It presents the perfect opportunity for collectors to stock up high quality product. This year sowing patterns were varied across regions, leading to a conflicting oil content. This compromised oil content, as well as low demand, has resulted in stable to decreasing prices.  

Spearmint Oil Mentha spicata Harvest: July - August

No shortage of supply is expected, and collectors can procure product as per demand. Sowing has been comparable to last few seasons.  

Thyme Oil

There is heavy demand for the product, especially the organic variety. Limited quantities are available as most of the stock has been consumed. The harvest period has concluded. The current price is stable.  

Turmeric Root Oil Curcuma longa Harvest: March - May

Turmeric oil is obtained from rhizomes, which are harvested between November and February. Raw material prices determine the price trend of the oil. With raw material expecting a price escalation, potential hikes in oil price can be expected. Currently, the prices are stable.  

Vetivert Oil Vetiveria zizanoides Harvest: All Year

The market is unstable due to concerns related to inflation and supply issues. This trend will continue all through 2023. Harvest season is over and new crop sowing has concluded as well. Heavy demand has resulted in an increase in price. 

Citronella Oil Cymbopogon winterianus Harvest: October - February

The demand for citronella is going down and unable to match the supply in the market. Several farmers have shifted to other profitable crops such as coffee. The last three years have witnessed stable prices.  

Clove Oil Eugenia caryophyllata Harvest: May - September

Unfavourable weather conditions with heavy rainfall have impacted the quality of production. To avoid mixing low quality product with good quality, producers are holding back the supply. This has resulted in unpredictable prices. Even clove leaf oil derivative prices are impacted due to this. Exporters have lowered the price to obtain higher qualities.  

Kaffir Lime Oil Citrus Hystrix L. Harvest: All Year

Mexico’s lime season is rather concerning. The prices of fresh fruit continue to be high due to the huge demand from the fresh market. The availability of key lime for the processing industry will be very low for the new season. Limited fruit availability has led to a rapid increase in lime oil prices. Additional factors contributing to the difficult lime oil situation include increasing labour, energy, and transport costs; inflation, price fixing by criminal gangs and the destruction of many containers of Brazilian limes because of bacterial disease.

The vast majority of Mexico’s fresh fruit exports is to USA. However, it is even hard for Mexico to fulfil this demand. Essential oil contracts from the previous year have also not been fulfilled. 

Nutmeg Oil Myristica fragrans Houtt. Harvest: All Year

Indonesia stands as a major global producer of nutmeg, contributing to both local consumption and international trade. However, the nutmeg industry faces several challenges that impact production, yield, and quality.

The quality is unpredictable since raw material is getting mixed with Sulawesi. Production forecast this year is 30% lower. This is due to heavy rainfall last year, which resulted in mace either not bearing fruit or falling. Price is increasing daily.

The Ultra Group purchase team visited the sources of nutmeg production to gain deeper insights into the market situation of this product.

A summary of the key findings of their sourcing visit are as follows:

• Larger nutmegs are preferred for the spice industry. In the current situation the spice market is more lucrative than the oil market. Sulawesi is the largest producer of nutmeg in Indonesia, but it is mostly cultivated for the spice market.

• Smaller nutmeg fruits are used for essential oil extraction. In the current situation they have lower myristicin content as compared to the past.

• Nutmeg harvesting season varies between August and November, usually 9 months from blooming for the spice and 6 months for the oil.

• 2023’s forecast suggests reduced harvest due to adverse climatic conditions including excessive rain and extreme hot weather.

• Nutmeg production in Indonesia faces various challenges, including fungal infections and adverse environmental conditions which adversely affect production, yield, and quality.

• Currently, the spice market is more lucrative than the essential oil market for the farmers. Due to this many farmers are waiting to harvest the spice grade fruit. Fungal infections pose a significant challenge to nutmeg production leading to premature breaking and damage of nutmegs. 

Patchouli Oil Pogostemon cablin Harvest: All Year

Planting area for patchouli has shifted to the Gorontalo area. Depleting soil nutrient conditions have made it impossible to plant patchouli in several areas in Sulawesi. As a result, farmers have shifted to other crops. Prices are increasing due to decrease in the quantity of oil supply.  

Cabreuva Oil Myrocarpus frondosus Harvest: All Year

There is good supply of the oil. Production volumes are satisfactory. Prices are expected to hold steady till the end of 2024.  

Guaiacwood Oil Bulnesia Sarmientoi Harvest: All Year

Quantities from 2022 are still available in stock. The export quota for 2023 will only be confirmed in October. Oil is available in the market with good production volumes. 

Petitgrain Oil Citrus aurantium ssp. Harvest: All Year

Major production season only commences mid-October. Due to the winter season the months of June, July, and August witness low production. Farmers generally do not distil oil during this period. There is decent supply of the oil.  

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

AILIMPO’s first estimate of the Fino lemon harvest for the next 2023/2024 crop season forecasts a production in Spain of 990,000 metric tonnes (MT), which represents a significant increase of 30% compared to the production of this same variety in the campaign 2022/2023, and a return to the levels reached in the campaign 2020/2021, where the production of Fino lemon already reached 980,000 MT.

This first harvest estimate is subject to the evolution of weather conditions, water availability and the impact on the harvest volume of the entry into production of the new plantations, since the lemon surface Fino has increased by 5,671 hectares in the last 6 years, from 25,609 hectares in 2017 to the current 31,280 hectares (+22%), according to official data from MAPA (Ministerio de Agricultura, Pesca y Alimentacion).

Spain will continue in 2023/2024 to be the leading exporter of fresh lemon, and the second largest lemon processor in juice, essential oil and dehydrated peel worldwide.

Although the abundant rainfall that occurred last May was generally positive for the development of the crop, it was accompanied by different episodes of hail, estimating that some 1,000 hectares could have been affected by this weather phenomenon that occurred in different areas of the region of Murcia. The most significant damage has occurred in Campo de Cartagena, Alhama or Vega Media del Segura (localities of Archena and Molina de Segura).  

Cinnamon Bark Oil Cinnamomum zeylanicum Harvest: May - December

There is plentiful supply of distillation grade material. In the previous quarter harvesting continued in the off-season as well. Though the official harvesting period was from the end of April to mid-May. The oil is witnessing a low-price trend now.  

Cinnamon Leaf Oil Cinnamomum zeylanicum Harvest: March - August

Several distillers have halted production as costs are exceeding the price the oil is fetching in the market. There is a desperate attempt from collectors to off load product, as holding it incurs a substantial cost. Low demand from USA and key European markets resulted in crashing of prices in the previous quarter. The trend has not reversed yet.  

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

The mid-year Yala crop is inconsequential, and no fresh crop is available. Raw material prices have remained firm.  

Nutmeg Oil Myristica fragrans Houtt. Harvest: February - May

Only dry material supply is available. No fresh crop has been added since the second quarter. Price has held steady from the first quarter of 2023.  

Orange Oil Citrus sinensis Harvest: February - May

According to the USDA July 2023 forecast, the USA orange production is estimated to drop by over a quarter to 2.3 million metric tonnes (MMT), the lowest level in over 56 years. Yields continue to decline in Florida due to fruit drop caused by citrus greening, reduced area harvested and high winds from hurricanes. California is estimated to produce over twice as many oranges as Florida in 2022/2023.

Final estimates for the 2022/2023 season from USDA showed just 15.85 million boxes of oranges in Florida. This represents a 60% drop from the previous season, and the lowest yields since 1936. Multiple years of intense storms, unseasonal frost, and citrus greening have wiped out an enormous number of orange groves, many of which are unable to recover due to damage dealt to the orchards’ root structures. These devastating losses have already forced many Florida growers out of business. More than 90% of all Florida citrus production was impacted by hurricanes in 2022. This resulted in $675 million in damages, including lost revenue and damages to crops and property.

Consumption and exports are flat while oranges for processing are lower with the drop in Florida production.

Sustaining demand for Florida citrus products relies on maintaining adequate production and availability, as a decrease in either factor has a negative impact on overall consumption. In the orange juice category, supply shortages exerted greater pressure on prices compared to other categories, particularly after the 2022 Florida hurricane and freeze events which decimated Florida’s production in the 2022/2023 season by 60%.

Despite the increase in Brazil’s production last season, global availability of orange juice was projected to decrease by up to 13% when initial inventories were included in total availability. This decline stymied retail distribution, which is the primary channel for Florida’s production to reach consumers. USA orange juice production is estimated to fall nearly 50 percent to a record low 85,000 MT due to this drop in oranges available for processing, especially in Florida. This in turn has led to a substantial reduction in orange oil production. Orange juice consumption is estimated down with the reduced production but is somewhat offset as imports are estimated to increase over 30%.

Florida citrus growers are in a precarious situation as they evaluate higher prices at retail. While it may seem advantageous, high prices lead to a decline in consumer demand and overall revenue. Furthermore, for the Florida grower, inflation means higher production costs at a time of reduced yields. Despite higher prices, record high production costs continue to strain grower profitability, leading to a net reduction in revenues. Consequently, producers must balance gains from increased prices with high production costs and diminished yields.  

Orange, fresh: production, supply and distribution in selected countries (1,000 metric tons)