Market Report – January 2021

A whole New Year lies ahead of us and with it, we see rays of hope that the future will be brighter than the year that has gone by.  As we prepare to transition from 2020 to 2021, let us reflect on lessons we learnt during the past year and rise to the challenges in the new year.

Economically, India’s exports are seeing a revival; particularly, spice and related ingredients have shown a noticeable growth in the last year. BHOOMI will continue to provide relevant information through its Market Report and assist customers in taking informed purchasing decisions.

SPICE ESSENTIAL OILS AND EXTRACTS

Nutmeg

Season of Indian Nutmeg is over but demand is still very high. Prices are still soaring for the small volumes in stock. New season is in April. In season, BHOOMI offers Nutmeg oil and Nutmeg Extract/Oleoresin.

Turmeric

Harvest is expected to commence by end Feb 2021. Not only is India the world’s largest producer but also the biggest consumer of the spice too. Price of Turmeric is directly proportional to the trend of consumption in India. This year rates are expected to remain stable unless there is some drastic change in weather.  BHOOMI offers Turmeric Root oil, Turmeric Extract and Curcumin 95%.

Black Pepper

Crop from the 2021 season will arrive later this month and production will start at the same time. Prices are expected to remain steady. BHOOMI offers Black Pepper oil and Black Pepper Extract/Oleoresin.

Ginger

Harvest is almost over. Compared to initial yield, the oil yield is considerably low now. Prices are showing a slight upward trend. Now is a good time to cover your requirements until the next season.  BHOOMI offers Ginger oil and Ginger Extract/Oleoresin. 

Clove

Harvest of clove is in the first quarter of the year. At present, price of pure and natural oil is showing a slight upward trend due to good demand. BHOOMI offers Clove oil and Clove Extract/Oleoresin. 

 

Cardamom

The Spices Board of India ensures fairness and transparency of Cardamom trading through auction by registered vendors. Due to the daily fluctuation in prices based on the trading activity, production is being planned only against confirmed order.  BHOOMI offers Cardamom oil and Cardamom Oleoresin/Extract.  

HERB ESSENTIAL OILS

Davana oil

Re-sowing is almost over.  Delay in planting due to damage of first set of seedlings, is expected to affect yield of herb/davanone content. Harvest is likely to start by end-February to March. We will update further in our next report.

 

Palmarosa oil

After a slight hitch in production due to the cyclonic effects in the growing areas, now production is back on track. As per farmer expectation, prices are showing a slight upward trend now.

 

 

Lemongrass oil

Owing to local festival in the growing area, there was a break for distillation activities. Production has gradually resumed now.  Prices are still on an upward trend, owing to high demand.

 

 

Citronella oil (Ceylon type)

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

 

HERBS AND SPICES

Salacia Reticulata

Salacia is native to India and Sri Lanka and is mainly used for its medicinal value. Historically and even today, Salacia is used widely for its anti-diabetic properties, laxative, diuretic, weight loss, asthama, etc. BHOOMI offers Salacia Root in cut form as per customer preference.

Neem leaves

The various parts of the Neem plant – leaves, fruits, seeds and roots – contain compounds which are proven to have anti-inflammatory properties. Neem is also known to boost immunity system.  BHOOMI can offer dried Neem leaves.

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