With vaccine doses being administered to general public, the consumer confidence picks up months after the outbreak of the pandemic. Going forward there is an expectation of improvement in the general economic situation and purchasing power.
March is start of the summer months in India. It is a crucial time for arrival of many of the spice raw materials to market. In this regard, the ongoing farmer protests in the country could have some impact to availability. We will need to see how far-reaching the consequences of their demands would be on international trade. Another predominant cause for concern is the increasing freight costs for sea shipments. Fuel price hike, shortage of containers, correction to disruption in supply chain caused by the pandemic, increase in transit times, etc. are adding to the woes and therefore, warrants a better need for planning requirements from India.
BHOOMI will continue to provide reliable and accurate information in our Market Report, which, we hope, will assist you in making informed purchase decisions at the right time and to plan well in advance for your upcoming requirements. 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
The price of raw material is moving up. Political instability in Myanmar (the second top producer and exporter of turmeric after India), low yield due to excessive rainfall last year, fuel price hike and increased demand are some of the major factors for the unexpected price increase for the spice. BHOOMI offers Turmeric Root oil, Turmeric Extract and Curcumin 95%.
Due to high demand, prices are moving upwards. New season in Sri Lanka starts next month and this may bring about a change in pricing. BHOOMI offers Black Pepper oiland Black Pepper Extract/Oleoresin.
With the season having come to an end, limited stock of Ginger oil and rates are showing a slight upward trend. BHOOMI offers Ginger oil and Ginger Extract/Oleoresin.
With over 80% of the total cumin production of the world, India is also the biggest exporter of the spice. With strong export prospects anticipated with the onset of the new season, we will have to wait and watch to see the trend in pricing. BHOOMI offers Cumin oil, Cumin Extract/Oleoresin.
HERB ESSENTIAL OILS
Although delayed due to unfavourable weather conditions, the harvest and distillation of Davana started this month and the first few batches of Davana oil is now ready. Low seed quality and untimely heavy rainfalls in September and November 2020 (transplantation period of crop) and during the last week of February 2021 (flowering time) has considerably affected available herbage for production. The yield of Davana oil is projected to fall by 35% from 2019-20, and all factors put together puts the pricing on the higher side for Davana oil. BHOOMI has started offering Davana oil in smaller volumes from the new season. Please do write to us for your requirements.
Citronella oil (Ceylon type)
Sufficient quantities available in stock; rates are somewhat stable.
Farmers have moved to alternate crop like citronella. Hence there is limited availability of product. For limited stocks, the prices are high now.
With the onset of summer, crop quality and the citral level in Lemongrass oil is expected to improve if the irrigation systems are better administered. Farmers and traders expect a higher demand for the same reason, which could lead to higher movement in pricing. We do not see an immediate lowering of price for Lemongrass oil with the prevailing demand conditions.
Basil oil saw very high demand in its season time last year because of its nutraceutical properties and there was an increased intake of Basil leaf as such by pharma/nutra industries. This meant lower availability of raw material for Basil oil production. More than the increase in price, the availability of Basil oil is the more looming concern now up until the new season in end-2021. BHOOMI is happy to offer Basil oil for your current requirements as we have stock for immediate shipment.
HERBS AND SPICES
Basil has purifying and anti-pollution properties. 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.
With change in diet and lifestyle post the pandemic, products like Moringa are in high demand for its anti-oxidant potential and immunity boosting properties. BHOOMI offers Moringa leaves, Moringa leaf powder, Moringa seeds and Moringa oil.