CLOSING COMMENTARY


The United States’ three largest ports, Los Angeles, Long Beach, and New York/New Jersey, have all seen container traffic escalate.  The increase in newer, higher capacity vessels has contributed to longer unloading times.  In order to ease congestion at the port of New York/New Jersey, truckers have been calling for extended hours of operation.  Additionally, calls have been made for the 3rd party logistics firms that provide the chassis to haul containers to be held responsible for causing delays when equipment is unavailable.

Mar 2016
Mar 2016

Geranium Oil Egyptian

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Prices have increased slightly this month, with the next crop becoming available in June/July.

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Mar 2016
Mar 2016

Nutmeg Oil

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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.

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Mar 2016
Mar 2016

CARDAMOM OIL

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The recently completed crop in Guatemala is estimated to be the same size as last year’s.  Prices remain stable.  India also recently completed an adequate crop though prices have increased slightly.

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Mar 2016
Mar 2016

BLACK PEPPER OIL

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Following a good crop and high yield of Oil in India, prices have softened.

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Mar 2016
Mar 2016

Davana Oil

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The crop in India has been delayed by heavy rains.  Prices have firmed in the face of strong demand.

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Mar 2016
Mar 2016

Turpentine & Derivatives

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Reports indicate that many Gum Resin factories have not yet resumed production following their break for the Lunar New Year.  Prices are firm amid limited inquiries for Turpentine and a lack of feedstock.  New tree-tapping contract for 2016 are being negotiated now.

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Mar 2016
Mar 2016

ORANGE OIL & TERPENES

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Prices are nearing record levels as we continue to get bad news from growing regions.  Florida’s crop, soon to be over, was the smallest in recent history.  With Brazil’s crop not due to finish for several months we expect that supply will not cover normal demand.

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Mar 2016
Mar 2016

Spain, Brazil, California, and Southern Italy have all been experiencing bad weather, leading to reports of large reductions in crop sizes.  Argentina, the largest producer, reported a crop 10-15% larger than last year’s, slightly offsetting the losses elsewhere.

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Mar 2016
Mar 2016

EUCALYPTUS OIL & TERPENES

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Reports before the Lunar New Year indicated that speculators were taking positions and demand was increasing.  These factors, combined with bad weather in China’s Yunnan province lead us to believe that prices will stay firm until the new crop becomes available in July.

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Mar 2016
Mar 2016

VANILLIN

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Overproduction and producers’ attempts to hold onto market share have pushed prices for this high volume ingredient lower.

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Mar 2016
Mar 2016

GARLIC OIL CHINESE

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Several factors are at play with this pivotal ingredient.  The Chinese government’s drive to limit pollution continues to increase the costs on manufacturers. Despite the relief of a devaluated RMB, prices continue to rise.  Several reports indicate that prices will continue to rise into the Summer.  Quality issues are becoming more common, adding the need for costly C-14 testing.

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Mar 2016
Mar 2016

GINGER OIL CHINESE

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Offers from before the Lunar New Year have remained at the same levels.

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Mar 2016
Mar 2016

ANISE OIL & NATURAL ANETHOLE

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Reports indicate that carryover from the Autumn crop are dwindling.  We expect prices to firm until new material becomes available after April.

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Mar 2016
Mar 2016

Prices have risen following the completion of a slightly smaller Autumn crop.  Increased production and raw material costs will likely keep prices firm until new Oil is available in June.

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Mar 2016
Mar 2016

CORNMINT & MENTHOL

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Reports have given conflicting information on the size of the upcoming Cornmint crop.  One group estimates a 33% reduction, another a 25% increase.  More information will be available after March once an estimate of planted acreage has been made.  Cornmint Oil prices have risen recently, with increased demand and limited stocks given as a reason.

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Mar 2016
Mar 2016

Synthetic Citral & Derivatives

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With an unexpected shutdown of a major producer and increased quantities allocated to synthetic Menthol production, Hydroxycitronellal, Citronellyl Acetate, Citronellol, and other derivatives have been affected.  As major users try to cover their needs we would expect prices to firm.

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Mar 2016
Mar 2016

Geranium Oil Chinese

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Carryover is dwindling in the lead up to the availability of new Oil in June/July.  This has pushed prices close to 2011’s record high of over $185/kg.

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OPENING COMMENTARY


The Lunar New Year celebrations in Asia this month played an important role in the trade of ingredients in and out of that region.  With the whole country in transit and celebration, Chinese products experienced their traditional price increase following the end of festivities.


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