The market report provides updates on prices and supply trends for menthol, essential oils, and other aroma products. Menthol prices decreased slightly due to weak demand and additional synthetic supplies. Peppermint oil prices remained stable but exports are discouraged by high landed costs in the US. Spearmint oil prices also decreased due to cheaper synthetic alternatives. Lemongrass oil prices declined with easy availability of synthetic citral and good production. The report recommends coverage through November and potential for rebooking later due to expected price decreases. Norex is a trusted source known for its direct supplier relationships, market knowledge, and focus on fulfilling contracts.
1. NOREX FLAVOURS PRIVATE LIMITED
Finest Manufacturers & Exporters of Essential
Oils, Aroma Chemicals & Isolates
September 2019
Market Report
7th October 2019
IN THIS ISSUE
General Comments 2
Joke of the Report 3
Mentha Piperita 4
Market Report 5
Mentha Arvensis& Menthol 6
Spearmint Oil 7
Anethole/Methyl Chavicol/Indian Basil Oil 8
Why NOREX? 9
2. NOREX FLAVOURS PRIVATE LIMITED
Finest Manufacturers & Exporters of Essential
Oils, Aroma Chemicals & Isolates
GENERAL COMMENTS
• During the month, the Indian rupee was moving between Rs. 70.37 for 1 USD to Rs. 72.40 for 1 USD.
• Norex is proud to invite you for upcoming Food Expo where we shall be displaying our upcoming
creative range of Flavours in Liquid and Powder form and wide range of existing flavours as well in
presence of approx. three hundred companies of food and health industry. Thus, do make it for the
function along with your friends and family. Your presence will be our Honor!
• Food Ingredients Expo 2019. -Hall No-1, Bombay Exhibition centre, Mumbai on 21st
to 24th
October.
• Gulfood Manufacturing 2019 -Stand S- A82 by Frey & Lau, world Trade Centre, Dubai on 29th
October to 31st
October.
• Had a wonderful time last week with my team at IFEAT
conference Bali. The conference was a great tool for
meeting several customers, suppliers and technical
subject experts from across the globe under one roof.
This was my 19th consecutive IFEAT conference, means
19 years of regularly attending IFEAT around the world.
I extend my sincere thanks to organizing committee of
IFEAT for such wonderful seven star arrangements in
Bali and also express my gratitude to lovely Indonesian
people, who won our hearts by their wonderful hospitality.
Thank you Bali. God Willing, 20th in Berlin.
• Like us on Facebook: https://www.facebook.com/norexflavours
• Connect with me on LinkedIn: https://www.linkedin.com/in/vaibhavnorex/
3. NOREX FLAVOURS PRIVATE LIMITED
Finest Manufacturers & Exporters of Essential
Oils, Aroma Chemicals & Isolates
After I retired, my wife insisted that I accompany her on her trips to Local Supermarket.
Unfortunately, like most men, I found shopping boring and preferred to get in and get out. Equally unfortunate, my
wife is like most women - she loves to browse. Yesterday my dear wife received the following letter from the local
Supermarket
Dear Mrs. ..
Over the past six months, your husband has caused quite a commotion in our store. We cannot tolerate this behavior
and have been forced to ban both of you from the store. Our complaints against your husband, are listed below and
are documented by our video surveillance cameras:
1. June 15: He took 24 boxes of condoms and randomly put them in other people's carts when they weren't looking.
2. July 2: Set all the alarm clocks in Housewares to go off at 5- minute intervals.
3. July 7: He made a trail of tomato juice on the floor leading to the women's restroom.
4. July 19: Walked up to an employee and told her in an official voice, 'Code 3 in Housewares. Get on it right away'.
This caused the employee to leave her assigned station and receive a reprimand from her Supervisor that in turn
resulted with a union grievance, causing management to lose time and costing the company money.
5. August 4: Went to the Service Desk and tried to reserve a bag of Maltesers.
6. August 14: Moved a 'CAUTION - WET FLOOR' sign to a carpeted area.
7. August 15: Set up a tent in the camping department and told the children shoppers they could come in if they
would bring pillows and blankets from the bedding department - to which twenty children obliged.
8. August 23: When a clerk asked if they could help him he began crying and screamed, 'Why can't you people just
leave me alone?' Emergency Medics were called.
9. September 4: Looked right into the security camera and used it as a mirror while he picked his nose.
10. September 10: While handling guns in the Sports department, he asked the clerk where the antidepressants
were.
11. October 3: Darted around the Store suspiciously while loudly humming the 'Mission Impossible' theme.
12. October 6: In the auto department, he practiced his 'Madonna look' by using different sizes of funnels.
13. October 18: Hid in a clothing rack and when people browsed through, yelled 'PICK ME! PICK ME!'
14. October 22: When an announcement came over the loudspeaker, he assumed the fetal position and screamed
'OH NO! IT'S THOSE VOICES AGAIN!
15. Took a box of condoms to the checkout clerk and asked where the fitting room was.
And last, but not least:
16. October 23: Went into a fitting room, shut the door, waited awhile, and then yelled very loudly, 'Hey! There's no
toilet paper in here.' One of the Staff passed out.
4. NOREX FLAVOURS PRIVATE LIMITED
Finest Manufacturers & Exporters of Essential
Oils, Aroma Chemicals & Isolates
MARKET UPDATE
Mentha Piperita
Market is remaining very much unchanged. We are
seeing some demand in the market, but not enough
to push the market upward. However, no downward
pressure either. Major reason for lack of demand is
due to fact that prices for 100% pure Indian
peppermint will be more than $36/Kg. Whereas if we
factor in custom duty and handling charges, the
prices of Peppermint landed in US will become $39-
40/Kg, which are very close to American farm level prices for some of the mint varieties. This is really
discouraging, export of Indian Peppermint to American market.
Prices are very much at the same levels of Rs 2400-2500/Kg for 5% menthofuran oil. Prices for Arvensis
products are now becoming weak, which is making commercial qualities of Indian Piperita cheaper now.
Peppermint Fields (Mentha Piperita)
5. NOREX FLAVOURS PRIVATE LIMITED
Finest Manufacturers & Exporters of Essential
Oils, Aroma Chemicals & Isolates
Mentha Arvensis & Menthol
Following is the position of current market pricing, compared to last market report pricing.
Item Prices as on 31st
August 2019
Prices as on 30th
September 2019
Mentha Oil Rs 1438/kg Rs 1434/kg
Menthol Flakes 96% Rs 1520/kg Rs 1482 / kg
Menthol Crystals Rs 1597/kg Rs 1552 /kg
Crude DMO Rs 967/kg Rs 1007 /kg
In the Month of September, we saw all most stable market price.
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Price
Period
Movement of Market Prices
Mentha Oil Crystals DMO
6. NOREX FLAVOURS PRIVATE LIMITED
Finest Manufacturers & Exporters of Essential
Oils, Aroma Chemicals & Isolates
Prices for Mentha Oil were pretty stable, however due to poor demands we saw weakning in prices of
Menthol Powder and Menthol Crystals. That means, that overall prices for Menthol are coming down. There
are many factors which are indicating of weakning market during the month of October. The major reasons
I see are :-
• Demand at present is very weak. Export data analysis of first four months of this financial year shows
very high exports of close to 7000 MT of Menthol, which indicates a prorata export of 21000 MT in a
year. The average data of Menthol exports from
India is close to 17000 MT, this means that demand
will be less in coming months.
• We are seeing additional supplies of Synthetic
Menthol from major players in Malaysia and US.
• We are going to see some additional 2nd cut
production of Mentha Oil from MP and East UP
area, which is going to ease supplies in market in
November.
• India is going to see major festival season in October,
which will prompt some farmers and stockists to offload some of the inventories they are carrying.
Meanwhile, Government has given some relaxation on Income tax on cash transaction, which has boosted
confidence of traders and farmers in market. At present it looks like that gradually Menthol market prices
will go down in next 1-3 months. DMO prices are getting little strong to support weakning Menthol.
However I don’t see any reason for a complete crash in
market. I believe a major crash may happen during 2020
crop, as crop will be good and carryover from 2019 would
be sizable. At present, coverage upto end of this year
seems like a good strategy with exploration of rebooking
by mid to end of November.
7. NOREX FLAVOURS PRIVATE LIMITED
Finest Manufacturers & Exporters of Essential
Oils, Aroma Chemicals & Isolates
Spearmint Oil
Poor prices of d-limonene is making synthetic L-Carvone even more cheaper. This is keeping demand for
Indian spearmint pretty weak and prices are coming down.
Anethole/Methyl Chavicol/Indian Basil Oil
New crop production is due in this month. Will update on price trend.
Lemongrass Oil
Easy availability of synthetic Citral and good production of Lemongrass is resulting in downward price trends.
Latest Pics of Norex own Lemongrass Field
