Also affected by rain, there appears to be a shortage of good quality oil at this time. There is a report that when prices dropped precipitously, several processors closed, unable to cover overheads. As a result prices continue to firm.
We have a report that in the growing regions of Aceh and Padang, while the rains have stopped, extremely strong winds have caused the nutmegs to fall from the trees before they ripened. Additionally, this report states that heavy flooding in Padang further disrupted the collection of fruit. There are also reports of insect infestations... Read more »
After firming, prices have stabilized.
Similarly to Clove, the rainy season and currency changes have caused Nutmeg prices to firm.
Here too rains have affected harvesting, causing prices to firm.
With increased availability prices have softened.
With the rainy season still in full swing, collection of fruits has been put on hold. When the rains end around April we would expect the situation to improve.
News from a well-known broker states that his suppliers claim that adulterated Oil is still being offered. He further states that this adulteration is only detectable by a sophisticated lab.
The deep purple of this snack plays into the appeal for colorful superfoods like pomegranate, acai, and blueberry.