Nutmeg oil (Myristica fragrans) market conditions in India are characterised by steady demand and moderately constrained supply. India, particularly Kerala, is a key global producer alongside Indonesia, with oil extracted from nutmeg seeds and mace through steam distillation. Demand is driven by its wide use in pharmaceuticals, food flavouring, cosmetics, and aromatherapy due to its warm, spicy aroma and therapeutic properties. Market supply is influenced by ageing plantations, seasonal yield fluctuations, and sensitivity to rainfall and humidity conditions. While production is relatively stable, output remains limited by agricultural constraints and labour-intensive harvesting. Overall, the market shows consistent demand with tight but manageable supply fundamentals.