Citrus Oils - October 2011

BERGAMOT

STEADY

The new Italian crop has all the signs of being plentiful so prices are expected to be stable.

GRAPEFRUIT

VERY FIRM

Supplies of good quality oil will remain tight until new crop Florida oil is available.

LEMON

WEAK

In spite of the July freeze, Argentina will have processed close to a record 1 million metric tons of lemons. Supply of oil should be plentiful.

MANDARIN

FIRM

Not such a good crop expected hence we are expecting prices to be firm.

ORANGE

FIRM

Brazil is enjoying a very large crop and shipments are beginning to arrive around the globe. Florida processing is just around the corner. Conditions are right for an easing in prices but nothing is certain these days.

KEY LIME

VERY FIRM

It appears that Mexican processors have sold out their 2011 production of oils. The next opportunity for buying will be from Peru later this year. If demand continues, Key Lime is likely to be in very tight supply for the next 12 months.

PERSIAN LIME

STEADY

The Mexican crop was about average in size and prices have remained steady.

TANGERINE

FIRM

Due to a severe drought in the growing regions, we are expecting a 40% fall in production.