Industry news

The mint market in 2022


➢ Mint market was quite stable over last two years, 2020 and 2021.
➢In 2021, Most of the markets were recovering from the Covid 19 crisis.
➢ The Average dollar price in 2021 stayed at  Rs.74/USD with highest at Rs.76.50 and lowest at Rs 72/USD.
➢ India recorded the highest import of Synthetic L-Menthol of 7000MT in 2021.
➢ The Average Price for Crude  Mentha Arvensis oil stayed at Usd 14/kg. The highest being USD 16/kg  and lowest at USD 13/kg.
➢ The Mentha Arvensis harvest was delayed by 15-20 days (about 3 weeks) due to heavy rainfall in early 2021.
➢ The Prices for Mentha Piperita Oil stayed stable across the year at  USD 32/kg for FAQ oil.
➢ In Early 2022 due to good demand and increasing prices of American Piperita, the market gained interest and the prices increased
to USD 36/kg for     Mentha Piperita Oil in India.
➢ The Prices of Spearmint Oil reached a record high level of USD 42/kg in 5 years of this crop, the hike was due to less crop and lower recoveries.

Crop 2022:

Mentha Arvensis Oil/Cornmint oil: Crop is just starting. Harvesting will last until Early August at difference growing regions in India. This is the largest consumed  essential oil,  used as a Raw material to produce Menthol Crystal, Peppermint Oil, Cis-3-Hexenol and various mint ingredients. India is the largest manufacturer of Natural Menthol Crystals globally with its application in Pharmaceutical, Oral Care, Confectionery, Cosmetics, Flavors, and fragrances. The Crop in 2022 is expected to be the same as in 2021 and the volume of 55,000 – 60,000 MT.

The Prices of Mentha Arvensis Oil will stay in the range of USD 14-16/kg. Due to early summers in 2022 and increased prices of fuels the cost of Harvest in India have increased, and the farmers will be unwilling to sell their harvest below these prices.
The prices of Synthetic menthol have increased 8-12% due to increased prices and supply issues of Crude oil in Europe.

The Market of Natural Crude Mentha Arvensis Oil increased since Mid-March to  Usd 16/kg after its average price of USD 14/kg  in 2021.
The Supply of Mint Oils and its derivatives shall not be an issue owing to good crop size in 2022. The Major supply issue is the availability of the containers to ship to major  international ports from India. The freight prices have increased to an all-time high and have disturbed the supply chain.

The higher prices of Cis-3-Hexenol have been a Major support for the prices of Natural menthol and if the prices of Cis-3-Hexenol reduce the prices of Mint derivatives will increase proportionately. The supply of Synthetic Cis-3-Hexenol is expected to stabilize in the last quarter of 2022 after which the prices of Menthol Crystals may see a raise.

Mentha Piperita oil:

Mentha Piperita is  one of the most widely used herb in the form of leaves, oil, and extracts. Its applications include Pharmaceutical, Cosmetics, Aromatherapy, Oral care, Confectionary, Flavors, and fragrances. America is the largest producer of Mentha Piperita oil followed by India.
In India, the annual production of Mentha Piperita Oil is anywhere between 500MT-800MT. However, India export more quantity than this, as  MNCs buys large volumes of blended qualities at lower prices. DMO from arvensis is used in bulk for blending with piperita.
The crop of Mentha Piperita Oil 2022  is estimated  to be 25% less than 2021. The volume of Mentha Piperita expected to harvest is 450 MT in 2022 (UP and Punjab states together). There is negligible carryover stock of Mentha Piperita in India for 2022. The Prices will see a hike and shall stay in the price range of USD 42/kg for pure oil. The crop  was reduced by farmers due to low prices in 2021 and some cultivations have been affected by early rainfall in January.

Spearmint Oil

Mentha Spicata Oil also known as Spearmint Oil has its major application in Confectionary, Oral Care, Flavor & Fragrance. This specie of the Mint family is known for its sweet & minty flavor. America is the world leader in the production of Spearmint oil followed by India.
The production of Spearmint oil in India is between 200MT-300MT/year. The production was at its lowest  at 200MT in 2021 and prices have also been at a record low of  Usd 42/kg. The production in 2022 is expected to be 300MT. The demand is expected to be good across the year. The Harvest in 2022 will be over  by this month end.

The above data from Shanghai Kungrui International Trade Co.,, Please give the original source when you use it.