The following report contains updates on the current trends in production and availability of the most in-demand Essential Oils and Carrier Oils sourced from around the globe.
Ginger Root Essential Oil – Fresh
In Indonesia, Ginger Root (Fresh) requires regular irrigation to thrive and is harvested roughly every 9 months. Typical essential oil yields vary from 0.5%-0.75%.
There has been a decline in the total volume of production over the past few years, coupled with a rise in demand at both local and international levels. Locally, Ginger Root (Fresh) is abundantly featured in traditional health drinks and other beverages. If current trends continue, it is likely that this versatile oil will become more expensive in the coming months.
Wintergreen Essential Oil
In China, the fragrant leaves of the elegant Wintergreen plant are harvested from July to September. Crop conditions are currently optimal with adequate rainfall and ideal temperatures, with this year’s projected yield being nearly the same as last year. Wintergreen is currently experiencing stable pricing due to steady production and matching market demand, although our suppliers anticipate inclined prices if there are sudden spikes in demand in the near future.
Myrtle Essential Oil
The quality and output of Myrtle Essential Oil is contingent largely on the regional origin and harvest period. In Morocco, Myrtle is harvested from August to September. This year, the crop appears to progressing normally and no significant changes in demand are reported. Market conditions are likely to be stable going forward for this rejuvenating essential oil.
Niaouli Essential Oil
In Madagascar, Niaouli is wild harvested throughout the year. This year, although there is no issue with cultivation, harvesting is progressing at a slower pace due to stringent government policies regulating the harvesting of forest products. Alongside this, there has been a large spike in demand over the past few years. However, the projected harvest yield is promising, and Madagascar seems equipped with an excellent capacity to meet any excess demand.
Spikenard Essential Oil
In Nepal, Spikenard roots are harvested from the wild between October and November. Although a good harvest is expected this year, it has proved challenging for suppliers to keep up with recent trends in demand. Prices for Spikenard Essential Oil are expected to rise continually due to these rapid surges in demand.
Fennel Sweet Essential Oil
The harvest period for Sweet Fennel seeds in Hungary typically runs between September and October. Current growing conditions are reported to be favorable. Although yield has somewhat lowered this year, the essential oil produced is of exceptional quality.
There is strong demand for this premium oil, and market conditions appear to be stable at present. Any sharp increases in demand could however lead to increased pricing due to the relatively lower yield.
Marjoram Sweet Essential Oil
In Egypt, the harvest period for Marjoram commences in May and progresses through to September and November. Locally, the crop is utilized for both essential oil distillation as well as the herb and spice industry.
In 2019, Egypt produced 15 MT of Marjoram Sweet Essential Oil, compared with an output of 28 MT last year. The lowered production reflects changes in demand, which has become somewhat muted this year. Prices have decreased, with market conditions being favorable for buyers.
Baobab Carrier Oil
Baobab fruits are wild harvested in Senegal between the months of January and April, with the exact quantities and time of harvesting being subject to government approval. The seeds from the fruit are then dried and cold-pressed to extract this valuable oil. This year, the yield is marginally increasing and is in line with the slow-rising demand.
Currently, supply is limited due to the costs associated with transport and logistics of small quantities. As the oil slowly becomes less niche, prices could reduce because of the economies of scale in production.
Extra Virgin Olive Carrier Oil
In Spain, Olive fruits are harvested between November and March. The previous harvest resulted in an excellent yield and this is likely to continue into the current season due to timely rainfall showers, which has caused the olive fruit to ripen beautifully early. An estimated 1.25 MT is expected, which misses the average yearly output (over the last five years) by just 7%. Due to the large carryover inventory from last season’s harvest, there has been a stark decline in pricing, although these price trends are not expected to last.
Demand for Extra Virgin Olive Carrier Oil originating specifically from Spain is declining due to increased competition within the Mediterranean region. However, US-imposed tariffs are expected to divert sales to European markets as a whole.
Moringa Carrier Oil
This year, India’s Moringa crop is of a considerably larger size due to a prolonged monsoon period. The market for Moringa is growing, which can largely be attributed to increased interest from developed nations, including the US, UK, Australia, and Canada. This upward trend is expected to continue, and rising demand is likely to be met by adequate production due to the excellent weather conditions.