Aroma Trading Limited

Market Report January 2002

Clove Bud Oil
Expect further price increases on Madagascan material. Our suppliers inform us that raw material in very short supply.

Cocoa Butter
One of the largest processors of beans has allegedly been importing beans from Ghana into Ivory Coast to cover shortage of beans in the local market. This must cost them a small fortune to keep the grinding facility in operation.

Global production last year did not exceed 2.9 million tonnes and this figure is expected to be even lower this calendar year.

Eucalyptus Oil
Still no sign of this market easing. Spot material is still in short supply, partly due to traders refusing to release their stock below a certain price, and the lack of supplies in transit from China. The Chinese New Year celebrations kick off in a few weeks and this will no doubt contribute further to the supply problem.

Geranium Oil
Egyptian material remains competitively priced. While Chinese oil continues to increase in price due concerns about the lower production over the last few crops. We can also offer limited quantities of Moroccan material.

Lemon Oil
This oil is competitively priced at the moment from various origins.

Orange Oil
Some offers are trickling out of Brazil, but it is too early to determine if prices have reached a peak. Market remains fairly inactive at this time, as the major consumers have covered their immediate needs.