RAPPORTS

U.S. MINT OIL – 2021 CROP SPRING REPORT – MAY 2021

bordasadmin ,

CURRENT CROP CONDITION


In general, North American mint plantings have over-wintered well. Rain and snowfall have been below average but there was sufficient winter moisture to maintain healthy rootstocks.
Irrigation water supplies may be tight, but adequate for mint production in the far west regions. One significant trend which may portend the future, is that the primary irrigation water source for the southern Oregon/northern California region has been shut off completely because of environmental issues. Although this area is not large enough to significantly affect supply, it causes concern for availability of irrigation water in the future.

MARKET CONDITIONS


Peppermint – Overall demand for North American peppermint oil continues to be slow. We see steady demand in the oral care industry and weak demand in the confectionery industry. For a brief period this winter, prices paid to the producer dropped below market price and growers in
weak financial condition liquidated their stocks. This left unsold inventories in strong financial ownership and prices rebounded some. Less than average quantities of the 2021 crop are pre-sold on a contractual basis and we expect that industry demand will continue to be dull. This may well lead to further reduction of acreage for the 2022 crop and could lead to a tighter supply situation by 2023 crop year. As compared to this date one year ago, peppermint acreage has declined an additional 19%, unsold carryover stocks have increased 89% and market volume demand has declined 25%
Spearmint – As has been the situation for a number of years, the only significant production and supply of natural spearmint oil worldwide is North America. Global demand for spearmint oil continues to be steady. Due to good supply prices have weakened some and growers are responding by slowly reducing acreage. As compared to this date one year ago, acreage in production has declined 11.7%, unsold carryover stocks have declined 2.2% and market volume demand has increased by 3.5%

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LAVANDE / LAVANDIN HE – CROPS 2020

bordasadmin ,

As harvest is over, it is now reasonable to suggest a realistic trend. In short, it was good !

Overall, production figures are expected to be 20-30% higher than last year. An exception to notify for Lavandin Super which encountered difficulties because of reduction in planted areas and disease.

All lights are therefore on green so that can be expected a drop in prices, but in what proportion …, this is the only unknown at this date.

We will have to wait a few more weeks for everyone to play its cards in an unusual configuration: health crisis and new trade rules oblige!

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RAPPORT RECOLTE 2020 LAVANDE / LAVANDIN HE

bordasadmin ,

La récolte terminée, il est désormais raisonnable d’évoquer une tendance réaliste de cette dernière. En un mot, elle a été bonne !

Dans l’ensemble, devraient être annoncés des chiffres de production supérieurs à ceux de l’année dernière de l’ordre de 20 à 30 %. Un bémol pour le Lavandin Super qui rencontre des difficultés car touché par le dépérissement et la réduction des surfaces plantées.

Tous les feux sont donc au vert pour que l’on assiste à une baisse des prix mais dans quelle proportion… , c’est la seule inconnue à ce jour.

Il faudra patienter encore quelques semaines pour que chacun abatte ses cartes dans une configuration inhabituelle : crise sanitaire et nouvelles politiques commerciales obligent !

 

 

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U.S. MINT OIL – 2020 CROP

bordasadmin ,

U.S. MINT OIL – 2020 CROP
SPRING REPORT – MAY 2020

 

PEPPERMINT


REGION                        ACRES                    UNSOLD GROWER INVENTORY
                                                                                                   LBS
Midwest                         8,200                                            60,000
Willamette                    7,200                                             50,000
Madras                             500                                                7,000
Idaho                           15,500                                           550,000
Yakima (single cut)    7,000                                           240,000
Yakima (double cut)  4,000                                           230,000
La Grande                    3,400                                              35,000
Other Far West           1,640                                            120,000
Totals                         47,400                                         1,292,000

 

SPEARMINT


Midwest Scotch            800                                                5,000
Midwest Native         5,300                                                2,000
Far West Scotch1      9,900                                            340,523,2
Far West Native       8,800                                           1,747,5453
Totals                        24,800                                         2,095,068


1 Includes Canada.
2 Includes 60,000 lbs. in “Reserve Pool” of the Federal Marketing Order.
3 Includes 1,187,000 lbs. in “Reserve Pool” of the Federal Marketing Order.

 

CURRENT CROP CONDITION

For the fifth consecutive year, all production regions have come through winter and into the spring in good condition with little or no adverse events. In all regions the irrigation water supplies are forecast to be adequate for the mint crop. At this date we feel it is reasonable to expect average or better yields from the 2020 crop.


MARKET CONDITIONS

Probably the biggest factor in the supply/demand equation this crop year is a significant drop-off in demand attributable to a large, global oral care company which seems incapable, year after continuing year, to get their over inventoried position under control. And this seems to have led a significant buyer of US mint oil to renege on a large portion their 2019 crop purchase contracts and greatly decrease their contracting of the 2020 crop.
Except for this, on paper, supply and demand for Peppermint looks reasonably balanced. Spearmint supply and demand would also looked balanced except for the same situation, plus
continued overproduction of Far West Native Spearmint.
Keeping this significant influence in mind, the comparison for this year versus last is:
Peppermint – Acreage in production has declined 13.2%, Carry-over stock has increased 43.3% and demand has decreased 11.7%

Spearmint – Acreage in production has increased 8.3%, Carry-over stock has increased 19.3% and demand has decreased 10.7%

Market prices have been softening and, ruling out any unforeseen outside events, is not expected to rebound in the 2020 crop marketing year.

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