Peppermint Oil Price Trend and Forecast

Peppermint Oil Regional Price Overview

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

Peppermint Oil Price Trend for the Year 2024

The price trend of peppermint oil in 2024 was largely influenced by peppermint crop prices, as fluctuations in acreage, input costs, and market conditions directly impacted oil production and availability. In the United States, peppermint acreage continued to decline slightly from 2023, as lower prices in previous years and high grower-held inventories led farmers to shift to alternative crops. While inflationary pressures that had previously driven up input costs by 30-50% eased somewhat, high labor expenses and borrowing costs remained a challenge.
 

Peppermint Oil Price Chart

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However, the weakening of key commodity prices like corn and wheat renewed interest in mint cultivation, potentially affecting future supply. This contributed to a softening of peppermint oil prices compared to 2023 when inflationary effects were at their peak. Additionally, increased planting of proprietary peppermint varieties was observed, though the long-term balance between conventional and proprietary peppermint oil remained uncertain. Overall, the U.S. peppermint oil market in 2024 experienced a period of adjustment as growers responded to evolving economic and agricultural conditions.

Analyst Insight

According to Procurement Resource, the peppermint oil market is likely to sustain a similar outlook for some time in the near months, since the market drivers are not suggesting any substantial deviation.
 

Peppermint Oil Price Trend for the Second Half of 2023

Peppermint Oil price trends were observed to be oscillating throughout the given span. The beginning of the third quarter saw some notable surges in the peppermint prices. In India, the market grew by around 18% in August because of the anticipated decline in production yields.

This stood true as the production saw some reductions. However, despite this fall in available supply volumes, the price trend took an unpredictable turn in the fourth quarter. Suppliers were preparing for a higher volume of orders, while on the other hand, the prices started falling during the last quarter. The various geopolitical scenarios played out negatively for peppermint oil prices. Overall, a varying market performance was witnessed.

Analyst Insight

According to Procurement Resource, Peppermint Oil price trends are not likely to improve anytime soon. Given the supply and demand outlook, the same pattern will continue for some time in the coming months.
 

Peppermint Oil Price Trend for the First Half of 2023

Peppermint Oil is produced by the steam distillation of Mentha and Piperita L. plants. It has refreshing, cooling, and anti-irritant properties, so it is consumed generously by the flavor, fragrance, cosmetic, personal care, pharma, and food industries.

Since around 50% composition is menthol in Peppermint Oil, their price trend align closely. During the first two quarters of 2023, the Peppermint Oil market performance was not par, considering the versatility of its usage.

The FMCG industries were experiencing a depressing stagnancy in the global market amidst high levels of Peppermint Oil inventory stocks. So, with feeble demands, the consumption sector didn’t pose many demands for Peppermint Oil. Suppliers had to keep discounting the market prices in order to promote stock movement. Overall, dull market sentiments were observed.

Analyst Insight

According to Procurement Resource, supplies are consistently overpowering the demands for Peppermint Oil. This is why a balanced dynamic between the two seems a distant idea.

Procurement Resource provides latest prices of Peppermint 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.