December 2024
The December 2024 Market Report provides a comprehensive overview of the latest market conditions for several prominent aromatic products. As we close out the year, the global market for essential and carrier oils continues to experience significant fluctuations driven by climatic changes, geopolitical factors, and evolving market demands. This month, we explore the production trends, challenges, and forecasts for the Egyptian and Organic varieties of Geranium Essential Oil, Ginger Organic Essential Oil, Sunflower Carrier Oil (both conventional and organic varieties), and Walnut Carrier Oil.
Continue reading to stay informed on the latest industry trends from the experts at New Directions Aromatics.
Geranium Essential Oil is steam distilled from the leaves and flowers of the Pelargonium graveolens grown in the Beni Suef and El Fayoum regions of Egypt. This perennial shrub enjoys multiple harvests throughout the year, with peak seasons spanning May through July and again from September through December. Pelargonium graveolens thrives in well-drained sandy loam or loamy soils with a pH range of 5.0 to 7.0, enriched with organic matter. Ideal weather conditions include temperatures between 25°C and 30°C, moderate to high humidity, and well-distributed rainfall of 1,000 to 1,500 mm annually.
This year, however, increased temperatures have impacted yields, leading to a 30% decrease compared to last year’s crop of 200,000 kg. While there are currently no immediate shortages for Egyptian Geranium Essential Oil, unpredictable weather and pest infestations could potentially affect future availability. Market demand remains steady, though bulk buyers are advised to inquire in the middle of the season for optimal pricing.
Geranium Organic Essential Oil is steam distilled from the leaves and twigs of the Pelargonium x asperum plant grown in Egypt. This organic crop is harvested once annually, primarily in June, and favors sandy or dark soils. Pelargonium x asperum also requires medium temperatures during its growth cycle to prevent material degradation.
This year’s harvest yield matches last year’s levels, thanks to stable climatic conditions. There are no significant shortages projected for Organic Geranium Essential Oil, and market demand remains steady. For bulk orders, November is the ideal time to secure pricing.
Ginger Organic Essential Oil is steam distilled from the root of the Zingiber officinale, an organically grown perennial herb native to Sri Lanka. Planting of the crop occurs in March or April, with harvest typically taking place in December or January. Sri Lanka’s fertile sandy loam soils and tropical climate provide the perfect environment for growing Ginger, which also requires a soil pH of 5.5 to 6.5 and an annual rainfall exceeding 1,500 mm.
Unfortunately, this year’s production faced challenges from unfavorable weather, resulting in a lower yield compared to the previous year. With decreased supply and increased demand for Ginger Organic Essential Oil, shortages are expected in the next quarter. Buyers are encouraged to act promptly to secure stock.
Sunflower Carrier Oil is cold pressed from the seeds of the Helianthus annuus flower and is refined, bleached, deodorized, and winterized for cosmetic purposes. Grown in Spain, Helianthus annuus is harvested between July and August in the south and in mid-August in the north, thriving in various soil types due to its drought tolerance and deep taproot system.
Spain has emerged as an exception in global sunflower production this year. While countries like Ukraine, Russia, and France suffered significant declines due to drought and summer floods, Spain experienced favorable weather, resulting in a 15% increase in yield. However, rising prices for Sunflower Carrier Oil, driven by global supply challenges, may persist into the next quarter. Despite this, Spain’s robust production ensures the availability of high-quality sunflower oil for the market.
Like its conventional counterpart, Organic Sunflower Oil in Spain saw a 15% increase in yield this year. Organic Helianthus annuus flowers benefit from Spain’s unique climatic conditions, including moderate temperatures during initial growth and hot, dry weather during its final cycle. The organic variant is primarily harvested in mid-July in the province of Cadiz. As with conventional sunflower oil, price increases are likely due to poor campaigns in other major producing countries. However, the Spanish market remains stable, ensuring continued supply for Organic Sunflower Carrier Oil.
Walnut Carrier Oil is cold pressed from the Juglans regia nuts grown in France and is refined, bleached, and deodorized for cosmetic purposes. The crop thrives in well-drained, fertile soils and requires a temperate climate for optimal growth. Successfully harvested between September and October, Walnut Oil production faced no significant challenges, ensuring a stable supply for the market. Bulk buyers are encouraged to place orders between November and December to secure the best pricing.