Patchouli Oil Price Trend and Forecast

Patchouli Oil Regional Price Overview

Get the latest insights on price movement and trend analysis of Patchouli Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Patchouli Oil Price Trend for the Second Half of 2023

Patchouli oil is extracted from patchouli plants which is especially used for its earthy and musky fragrance, especially by the flavor and fragrance industries. It is also believed to have healing and mosquito-repellent properties, which has led to the beauty industry developing various products around it.
 

Patchouli Oil Price Chart

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Patchouli plant depletes soil quality when grown; thus, many farmers have started opting for other crops over it. This shift in cultivation patterns has impacted the patchouli oil stocks in the global market and raised some supply concerns. Amidst this, a notable rise in downstream demands was observed from the Indonesian market. Thus, the patchouli oil prices were witnessed to be rising steadily throughout the given period.

Analyst Insight

According to Procurement Resource, the Patchouli Oil prices are likely to follow along a similar slightly inclined trajectory in the coming months as well. Lukewarm consumption suggests positive projections.
 

Patchouli Oil Price Trend for the First Half of 2023

The patchouli plant yields patchouli oil, which is an aromatic essential oil with an earthy, musky scent. It contributes long-lasting smells, skin benefits, and calming effects and is a crucial component in perfumery, cosmetics, and aromatherapy. The beauty and food and beverages sector thus guided the price trend of patchouli oil in the first two quarters of 2023.

The prices of skincare products and the performance of the overall beauty industry were immune to the negative effects of the global economic crisis and shift in the macroeconomic environment of the world. The demand for patchouli oil-based products thus also witnessed an incline that supported the rise in its price trend. Further, the global inflation in food prices due to a fall in production rates as the climate challenges persisted throughout the first and second quarters also helped in the positive movement of patchouli oil prices.

Analyst Insight

According to Procurement Resource, the price of Patchouli Oil is estimated to follow the trajectory determined by the food and beauty industries. The demand for patchouli oil-based products in these industries seems to be in the green zone, and thus, its price trend is estimated to incline.

Procurement Resource provides latest prices of Patchouli Oil. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.