Discussions at the International Citrus and Beverage Conference (ICBC) event in Florida confirmed that the Orange Oil market remains relatively quiet, with buyers still cautious and little sign of a significant increase in demand. 

One of the more notable developments is the relationship between Orange Oil and Orange Terpenes. Market levels are now broadly similar for standard Brazilian Orange Oil, D-Limonene and Orange Terpenes reflecting continued strength in the terpene market while demand for Orange Oil remains subdued. 

Brazilian suppliers also indicated that large Orange Juice inventories are continuing to influence processing decisions. With processors not running at the levels normally expected at this point in the season, less Orange Oil may be produced in the months ahead. 

There was also a sense that buyers who had been waiting for Orange Oil prices to fall further are beginning to reassess that position, while Brazilian suppliers appear prepared to hold current levels. 

Folded Orange Oils remain more readily available, with good volumes still reported in the market. 

For now, buyers remain cautious, with many continuing to watch weather conditions and the developing El Niño before committing to additional volumes.