Market Report – February 2021

It has been a promising start to year 2021.  Annual requirements are being planned well in advance to ensure availability of products to cater to an efficient supply chain system.  Also, transshipment delays at various ports due to the pandemic restrictions have made this advance planning all the more necessary at this time. 

Bhoomi will continue to provide relevant information through its Market Report and assist you in taking informed purchasing decisions. Read on to know more about the status of our main products.  We would be happy to support you with information on other specific products of interest.

SPICE ESSENTIAL OILS AND EXTRACTS

Nutmeg

Unexpected rainfall in the beginning of the year in the growing areas is expected to have an impact on the crop this year. Since this was the flowering stage, crop is expected to be lower by around 20%. With limited stock currently available, rates are exorbitantly high at present. In season, BHOOMI offers Nutmeg oil and Nutmeg Extract/Oleoresin.

Turmeric

Harvest has started and will last till April 2021. Prices are showing an upward trend due to high domestic demand. BHOOMI offers Turmeric Root oil, Turmeric Extract and Curcumin 95%.

Black Pepper

Harvest is on-going in many growing countries. Though global production this year is expected to be low, carry over stock from last year will be sufficient to meet demand. Prices are more or less stable. BHOOMI offers Black Pepper oil and Black Pepper Extract/Oleoresin.

 

Ginger

Season is over. As indicated in our previous report, prices are showing an upward trend due to reduced oil yield now. BHOOMI offers Ginger oil and Ginger Extract/Oleoresin. 

Cumin

Season starts in end March. Area in cultivation is 15-20% lower this year, but, at present there is no shortage of raw material expected in short term. However, domestic demand for the spice could pick up to match the lifestyle changes post summer.   BHOOMI offers Cumin oil, Cumin Extract/Oleoresin. 

 

Cardamom

Cardamom continues to see daily fluctuation in prices based on the trading activity, hence, production is being planned only against confirmed order.  BHOOMI offers Cardamom oil and Cardamom Oleoresin/Extract.  

 

HERB ESSENTIAL OILS

Davana oil

Distillation has started on a small scale in certain areas. However, average yield and quality levels will be known better once production picks up in full swing by the end of this month. Pricing will be based on oil yield and davanone content. Do look out for a further update in our next report.

 

Palmarosa oil

Distillation is not much due since the beginning of this month due to less demand for the product. Farmers are also holding back on the production expecting an upward movement in price, which usually happens by the onset of summer. Small quantities are currently available at present with slight fluctuation in rates.

 

 

Lemongrass oil

Cool weather conditions in the growing areas has resulted in stunted growth of the grass. As a result, production is less at present. With the onset of summer in March, growth is expected to return to normalcy, but no respite in prices are expected due to the high demand sustaining for the oil.  Farmer expectation is for the price to settle at a stable high.

 

 

Citronella oil (Ceylon type)

There is sufficient stock available and price continues to remain stable.

 

HERBS AND SPICES

Tulsi leaves

We all are well aware of the culinary uses of uses of Basil. It also finds good use in perfumes, soaps, shampoos and even dental preparations. In the last Basil season, the demand was too high for the leaves as such in pharma and nutraceutical applications. BHOOMI offers dried Tulsi leaves.

Neem leaves

The bark, leaves, and seeds are used to treat inflammation, infections, fever, tooth plaque, (gingivitis), etc. BHOOMI can offer dried Neem leaves.

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