The month of August saw the peak of monsoon for our state, Kerala. The hurdles due to rains added a few more to the current temporary hiccups due to the pandemic. Some growing areas have been affected due to floods. Bhoomi endeavors to supply raw materials and ingredients to our valued consumers in the shortest possible time. We maintain our advice to customers to plan well in advance for their upcoming requirements to factor in the process time for orders.
Our Market Report this month seeks to keep you well informed of the products in season and also our regular products. We hope this would be helpful for timely planning of procurement of raw materials.
SPICE ESSENTIAL OILS AND EXTRACTS
There is high demand for Nutmeg currently. Prices are on an upward trend.
Prices are now on an increasing trend because of the adverse weather and heavy rains as predicted during the month of August. Prices are fluctuating on a daily basis. Coupled with the restrictions imposed to contain the spread of the virus, there has been huge loss for the planters. BHOOMI can offer both Cardamom oil and Cardamom Extract at relatively good prices.
Arrival of raw material to markets is low and the quality is also inferior. Not much activity happening in the markets and this may affect production in the next season. As it is a cash crop, farmers depend on this revenue for further sowing. BHOOMI offers Turmeric Root oil, Turmeric Extract and Curcumin 95%.
Continuous rain and restrictions in transportation due to Covid-19 have hampered, to some extent, the harvesting of pepper in most growing areas. However, prices are somewhat stable for now.
Recent heavy downpour in the growing areas midway through the sowing season has delayed sowing and the new crop is expected by end Dec 2020. Prices are showing an upward trend.
Season is almost nearing a closure for this year. Prices were high and attractive for the farmers. This has prompted the farmers to sow more for the coming season and there is speculation of price dip in the next season.
HERB ESSENTIAL OILS
With the onset of monsoon, there is a slight dip in price. However, as the demand is still high, we have to wait and watch if the decrease in price would be same as the previous years.
Crop area is less compared to previous years as the price has fallen over the years and farmers have opted for alternate crops. The existing restrictions in growing areas has further dampened the availability of labour to cut and process the grass. With increase in demand and limitations in distillation, prices are moving upwards.
As the stocks deplete, farmers are recognizing the demand and increasing the rates for small quantities available with them. We continue to offer small lots.
The second leg of distillation of Peppermint oil is over. Not only was the yield lower, even the menthofuran content is low; hence availability of oil with lesser menthofuran is better. The average yield of Cornmint oil this year is significantly low compared to previous years. However, farmers are holding the stock in anticipation of a price hike.
HERBS AND SPICES
COVID-19 has put the focus on ingredients that build immunity and that is one of the main reasons for renewed interest in Moringa products. There are over 90 total nutrients found in Moringa, including a whopping 46 antioxidants and 23 anti-inflammatory compounds, which makes it popular in the pharma industry too, as a health supplement. BHOOMI can offer dried leaves, powder and seed..
Tulsi or the Queen of Herbs, is said to fight off a range of infections, including cold and cough. Therefore, it is in high demand now as people are looking for various immunity-boosting herbs. Tulsi leaves are rich in vitamins A, C and K and minerals like calcium, magnesium, phosphorus, iron, potassium, protein and fibre. Bhoomi can offer dried leaves and sticks.