Prices have softened slightly as there are roots in the market. It would also appear that several more processors have finished their conversion to natural gas from coal and are in need of cash, so selling oil at/or near cost.
2016 season ended at reduced rate of approximately 25% which has led to very limited carryover going into new crop. Rainy season has been favorable for a strong crop; however, simultaneously recent heavy rains have caused some logistical challenges in seed collection at the start of harvest now. Prices presently remain firm.
Monsoon rains did not alleviate problems with this year’s crop. Quality issues and high demand is keeping prices high.
Reports still confirm production is limited due to the strict environmental regulations being enforced, especially on many of the smaller producers. Prices have firmed.
Still watchful of quality, prices remain firm.
Here too, prices firm as drought in growing regions has not been fully compensated by monsoon rains.
When the government forced processors to switch to gas fired burners from coal, production reportedly switched to a different province. This caused prices to soften, albeit for a very short time. It did not take long before the government forced the change to take effect in that province also. With lack of dried roots available prices are firm.
Similar to Arvensis, no good news here. Production down from last years; less acreage and heavy rains in the North. Prices have jumped and are expected to stay firm until next year’s crop.
There have been reports that the Monsoon Season this year has not provided enough rain to ease the conditions in drought stricken growing regions. This has kept prices firm. Strong demand has caused measures to be taken that have brought about serious quality issues.
Similar to Lemongrass, rain is needed in the growing regions. Prices remain firm and quality is questionable.
On July 1st a Goods and Services Tax (GST) went into effect, at a rate of 12%. Impact on pricing is what one would expect. With less acreage planted, increased strength of the Rupee and this new tax, prices have changed weekly. Several producers anticipate prices to continue to rise for some time.
Reports continue to state that while the crop is fine, production is still limited as many factories have not yet changed their boilers to gas in line with pollution controls.
With the drought still in effect in Southern India, production has been limited. Competition from collectors and strong demand has kept prices firm. This has caused oil of questionable quality to enter the marketplace. Hopefully the upcoming monsoon season will alleviate this situation and production will return to normal.
Reports from India continue to state that total production this year will be down. There is also the question of quality surfacing, as reported by the Indian producers themselves. With the current strength of the Rupee to the dollar, prices have firmed. U.S. growers have also indicated that their prices this year will be higher than last year.
Availability continues to be good after this year’s good harvest.
Reports indicate that far less acreage has been planted this year. Although there are no reliable records available, dealers are forecasting this year’s production to be 350 – 400 metric tons. Exports from India average 1,500 – 2,000 metric tons per year.
The crop this year was good with higher volumes of oil than last year.
The spice market is reporting that the upcoming crop from Guatemala will be 2/3 the volume of last year’s, including carryovers. Extended dry weather has been cited as the reason. We can expect to see prices rise.
Reports continue to state that many factories have still not converted from coal-fired boilers. With demand for fresh Ginger still strong very little oil is being produced.
Reports continue to advise that there is a lack of dried roots available for distillation. Pricing has increased and should remain firm for the foreseeable future.
We have received mixed reports on the harvest in India which will continue until March. Some state that availability is steady while others indicate that the crop is not as plentiful as originally stated. Pricing has increased slightly.
The Indian crop season is over and reports continue to advise that there was serious damage. Prices for oil continue to rise and will continue to do so as stocks diminish.
Harvesting is ongoing and offers are tentatively being made.
The Indian government has recently removed the cash limitations for businesses though this does not readily translate into cash transactions at the farm level. A further impediment in one of the growing regions is police restrictions on cash as elections are due at the end of February. Prices have firmed and are expected to stay firm until the new crop in June.
With production still limited, prices continue to firm. As long as demand for fresh remains strong relief is not expected soon.
The Spice Market Journals indicate that there are issues with crops in Indonesia and India. The Indian crop has started though, and carryover oil has helped to stabilize pricing.
Prices have escalated on reports that the Indian crop has suffered serious damage. Guatemalan Oil is competitively priced.
Harvesting has just begun in India and the new crop should be available in March. It is hoped that the current crop will bring Davanone levels back to normal. Pricing indications are slightly lower than those of last year.
With the new fiscal policies enacted in India in November, the traditional cash transactions between farmers and collectors have diminished significantly. Less oil was collected and prices have increased at the farm level. To meet demand, exporters turned to the MCX for Cornmint, which also pushed up prices. A report states that current stock at the MCX is 8600 drums, down from 12500 on November 1st. Higher oil prices have led to higher Menthol prices, putting more pressure on Natural Menthol against Synthetic. Higher prices for Cornmint will encourage more acreage to be planted if root stock is available. One report we have questions that availability.
The 2016 Egyptian Crop was off for the second year in a row. Prices have climbed.
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