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Norex newsletter February 2020
- 1. M A R K E T R E P O R T F e b r u a r y 2 0 2 0 NOREXFLAVOURSPRIVATELIMITED 2. Joke Of The Month 3. General Comments 4. Mentha Piperita 5. Mint Price Trends 6. Mentha Arvensis Market Information 7. Spearmint Oil/ Anethole/MethylChavicol/Indian Basil Oil 8. CSR Activities 9. FieldVisit 10.Why Norex
- 2. Cookies… An old man was lying on his deathbed.With only hours to live, he suddenly smelt chocolate chip cookies wafting up from the kitchen. Driven on by his favorite smell, he somehow managed to pull himself out of bed, across the floor to the stairs, and slowly down the stairs...to the kitchen. There, the old man’s wife was baking chocolate chip cookies. With his last bit of energy, mustering everything he had left, he reached for a cookie only to get his hand slapped. 'No,' the wife snapped, 'these are for the funeral...!!' 🙈😂🤣 norex.in
- 3. GENERALCOMMENTS ✓During the month, the Indian rupee was moving between Rs. 71.09 for 1 USD to Rs. 72.27 for 1 USD. ✓Like every year, on 1st March Norex foundation (arm of Norex CSR) organized a camp for surgery of Cataract for poor and underprivileged farmers and old villager community. The camp was organized in collaboration of Vardaan Eye Hospital, Ghaziabad where more than 350 patients were examined and 165 were diagnosed and selected for cataract repair surgery. ✓The problem of Coronavirus (COVID-19) has created a global pandemic. Many tradeshows and visits have cancelled, and economy is going to take a major hit. LIKE US ON FACEBOOK www.facebook.com/norexflavours CONNECTWITH ME ON LINKEDIN www.linkedin.com/in/vaibhavnorex/ norex.in
- 4. MENTHAPIPERITA As per reports available, sowing is completed, and overall crop may go down by 10% compared to 2019 crop.The major decrease has come, mainly because of higher prices of Arvensis. On the other hand we are seeing that many stockists have become active in market, and they are now procuring and holding Mentha Piperita oil, due to lesser plantation.The prices at present are tighter and are in range of Rs 2550-2650/Kg for 5% pure & natural Peppermint.The real impact in price will be dependent on customer’s willingness to pay. However we can expect 2020 a better demand year, as American mint aggregators have not bought significant quantities in last three four years. Increase in prices of Indian Peppermint seems unavoidable. norex.in
- 5. MenthaArvensis&Menthol Item Prices as on 31st January 2020 Prices as on 29th February 2020 Mentha Oil Rs 1374/kg Rs 1330/kg Menthol Flakes 96% Rs 1394/kg Rs 1350/kg Menthol Crystals Rs 1445/kg Rs 1404/kg Crude DMO Rs 992/kg Rs 974/kg 1300 1340 1380 01-… 03-… 05-… 07-… 09… 11-… 13-… 15-… 17-… 19-… 21-… 23-… 25-… 27-… 29… PRICE PERIOD Movement of Market Prices Mentha Oil 1350 1370 1390 1410 1430 1450 1470 01-… 03-… 05-… 07-… 09-… 11-… 13-… 15-… 17-… 19-… 21-… 23-… 25-… 27-… 29-… PRICE PERIOD Movement of Market Prices Menthol Crystals 950 960 970 980 990 1000 01-… 03-… 05-… 07-… 09-… 11-… 13-… 15-… 17-… 19-… 21-… 23-… 25-… 27-… 29-… PRICE PERIOD Movement of Market Prices DMO norex.in
- 6. MARKETUPDATE MenthaArvensis&Menthol norex.in Prices have seen continued downtrend in Feb 2020. Market during the FEB felt panic because of Coronavirus situation. Coronavirus situation has become global pandemic which is increasing its spread to Singapore, South Korea, Japan, Italy, Iran. Now India have discovered some COVID patients who have recently returned from vacation from Italy. However contrary to fear, most of the Chinese companies are back to work, after 2-week extended vacation from Chinese New Year. Majority of the mint companies are in Anhui, whereas the real effected area is Hubei. We are seeing now good demand from Chinese market; however demand form multinational companies is very less. Accordingly we are seeing higher prices of Mentha Oil, however prices of Menthol are down. New crop plantation has started. We are expecting 5-10% more acreage compared to 2019 crop. Which is going to be huge. Given the additional synthetic supplies in market, and a decent size carryover from 2019, we can see lower prices in 2020. But Mint market is synonym of uncertainties. There are many more factors which may effect the market. Like we don’t know, if there will be any unplanned disruptions in synthetic menthol supplies in 2020. The crop is still on paper. We need to check for weather and yield at the time of harvesting and distillation. Accordingly at present, our recommendation will be not to go for long booking and buy in parts. Buy for three to five months only, and keep remaining exposure open.
- 7. SPEARMINTOIL New crop spearmint plantation is already done.We are expecting 30- 40 % reduction in crop area. Farmers are showing lesser interest in farming over poor prices & reduced yield in last crop year. Prices are expected to increase further. ANETHOLE/ METHYL CHAVICOL/ INDIAN BASIL OIL Crop was less, demand is good. Hopefully, prices will stay firm. norex.in LEMONGRASS OIL Disruption in supply of syntheticCitral from China, followed by dissatisfaction of farmers with low prices, price of Lemongrass is finally increasing again.We are expecting a truce although and prices should become stable soon
- 8. Eye Camp Norex foundation arranged its Sixth eye surgery camp for poor people and mint farmers on 1st March 2020, where more than 350 patients were examined for eye problem, diabetes & blood pressure, and out of them 165 were diagnosed for need of cataract surgery.These patients have been given free cataract surgery, medicines and food by Norex Foundation in collaboration ofVardan Eye Hospital. In last five years, more than 1000 poor people have got the benefit of free eye surgery from Norex foundation. norex.in
- 9. FIELD VISIT Feb 2020 norex.in Preparation & Sowing of Mentha Arvensis Stolons in full swing.
- 10. MARKETUPDATE MenthaArvensis&Menthol • Our proximity with crop cultivation area & farmers, and direct interactions with distillers give us a distinct place among competitors. • Our flawless reputation since inception on sticking with contracts. We believe in Delivery Delayed is Delivery Denied. • In very few organizations commercial people are having technical knowledge, and we are proudly one of them. • Our Honest Market reports & recommendation will help you in making right decisions at right time. • Being a family owned & managed company, we have our personal attention at every stage from Sourcing of raw materials to shipping of finish products. NOREX FLAVOURS PRIVATE LIMITED One of the most trusted source for your requirement of Menthol Mint products Essential Oils Aroma Chemicals Flavours Fragrances Products Certified Kosher& HALAL Facilities ISO 9001:2008, FSSC 22000:2005, ISO 14001:2004, WHO:GMP norex.in