We are now mid-year in June and this is also the time that we welcome the south-west Monsoons in the country. It is a good time for the rain-fed crops and also is the start of the mint season. Bhoomi brings you the latest market report for June 2019, which covers the market situation and price indications for our major essential oils.
Our team has been in the mint growing and production areas since end of last month.
Mentha Piperita – The first level harvesting of Peppermint is completed now, and initial production of oil has started. Peppermint has always had stable demand and it is expected to be the same this season as well. Higher spec material will become available only by later part of the season.
Mentha Arvensis – Harvest and production are in full swing. With cultivation area having been increased this year, production volumes are expected to be higher. We can see a fair reduction in prices.
After a span of decrease in price for Lemongrass oil, there seems to be settled phase now. There is likelihood for an increase in price in the near future when the rains begin in the growing areas. Right now is the best time to secure volumes as per requirements.
Black Pepper Oil
Currently the global prices of black pepper remain stable; it is expected to rise in coming months.
It should be noted that there has been very active demand for this product and there is very little availability at the source. We offer our current stocks at quite good prices.
The general price levels are quite high, considering high demand. Bhoomi can offer available stocks at quite attractive prices.
Harvest of Nutmeg has started in this month. Previously almost 25% of the trees in Nutmeg growing areas were impacted by acute floods. This is adversely affected the production of Nutmeg. Current demand and price remains stable.
It has been very hot in recent months and the region is suffering from a marked lack of rainfall. As a result a large portion of the planted fields have dried up and the seed yield per farmed hectare is therefore lower than expected. Farmers say this is an unprecedented situation as compared to previous year.
We have some stock available current demand. Declining volumes may cause price rise later this year.