Caraway Oil Price Trend and Forecast
Get the latest insights on price movement and trend analysis of Caraway Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Caraway Oil Price Trend for the First Half of 2024
In the first half of 2024, the price trend for caraway oil, a highly valued essential oil extracted from caraway seeds, reflected the broader dynamics of the caraway seeds market. Caraway oil, known for its distinctive aromatic qualities and health benefits, is widely used in the food, pharmaceutical, and cosmetic industries. The increasing demand for natural and plant-based ingredients, along with the growing recognition of caraway oil's medicinal properties, particularly in digestive health and diabetes management, contributed to steady demand.
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However, the market also experienced fluctuations due to shifts in the supply of caraway seeds, which are influenced by factors such as the expansion of the bread industry and the rising interest in plant-based diets. As Europe maintained its leadership in the caraway seeds market and Asia-Pacific emerged as a rapidly growing region, the caraway oil market mirrored these developments. The industry's reliance on consistent supply and the growing consumer preference for natural products kept caraway oil prices relatively stable despite occasional supply chain challenges. Overall, the market for caraway oil demonstrated resilience, supported by its industrial significance and enduring demand across key sectors.
Analyst Insight
According to Procurement Resource, a similar market performance is expected for caraway oil in the coming months as well, not much change is projected going forward.
Caraway Oil Price Trend for the Second Half of 2023
Caraway oil belongs to the category of essential oils and is thus known for its distinct aroma and flavor. Due to its defined properties, it is a popular ingredient in the food and beverage industry, particularly in the production of liqueurs, baked goods, and savory dishes. In the pharmaceutical sector, it is used as an important additive in the production of digestive aids and herbal remedies. Additionally, the antimicrobial and antioxidant properties of the oil make it useful in the cosmetic and personal care sectors.
During the third quarter, a peak decline was observed in the prices of caraway seeds and caraway oil, with a significant fall in the export volumes of Asian countries. But since then, the market projected strong momentum and recovered on the back of high procurement from overseas industries. Among the Asian countries, cumin holds the position of second largest exported spice after chili in India. The price surge during the third and fourth quarters was based on untimely rainfalls and crop production shortages, mainly in Gujarat and Rajasthan.
Analyst Insight
According to Procurement Resource, the price trend of Caraway Oil is expected to reap the benefits of delayed sowing activities in agriculture-dependent nations due to the adverse effects of climate change and unpredictable rainfall patterns.
Caraway Oil Price Trend for the First Half of 2023
Caraway Oil is directly milled from Caraway seeds, so the Caraway Oil price trend very closely mimic that of its feedstock Caraway seeds prices. Caraway Oil is primarily used in ayurvedic pharmaceuticals, flavor, fragrance, etc. industries. So, the downstream demands from these industries and market supplies drove the price trend primarily.
Caraway Oil prices followed an upward trajectory throughout the first half of 2023. Caraway seeds experienced constricted supplies after a long time; the primary reason behind this supply curtailment was significantly lower yields from the Caraway-producing regions. The biggest factor behind this decline in yields was climate change. Disrupted and uneven rainfall throughout the country affected the crop yield in a detrimental manner. So, with lesser supplies and moderate demands, the prices of Caraway Oil shot up.
Analyst Insight
According to Procurement Resource, the price trend for Caraway Oil are expected to continue behaving in a similar manner since the current weather patterns will affect the agricultural yields adversely.
Procurement Resource provides latest prices of Caraway 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.
Caraway Oil is extracted from the seeds of the plant of caraway, which is famous as a biannual herb and is known for being a rich source of fresh aroma. The fruit of caraway plant has a pungent, anise-like flavour and aroma. Caraway Oil is generally utilised for treating digestive problems and kill bacteria in the body, among other uses.
Report Features | Details |
Product Name | Caraway Oil |
Industrial Uses | Medicines and pharmaceuticals, Appetiser, Fragrance and flavouring agent, Cosmetics, Personal care products, Food products, Vinegars and animal fodder |
Synonyms | Carum Carvi Oil |
Supplier Database | Nordic Caraway Oy , Fleurchem, Inc. , Berjé Inc , Robertet Group, Mubychem Group, AG Industries |
Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
Currency | US$ (Data can also be provided in local currency) |
Supplier Database Availability | Yes |
Customization Scope | The report can be customized as per the requirements of the customer |
Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The Caraway Oil is obtained from oil-rich caraway seeds. In this process, Caraway Oil is gently distilled at ambient pressure without using any additives but steam, thus, producing the desired result.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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