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 Year 2024

Throughout 2024, patchouli oil remained a popular commodity in the global essential oil market, with Indonesia continuing to dominate production and exports. In the first half of the year, patchouli oil supply faced notable constraints due to adverse weather conditions and logistical disruptions within Indonesia. Despite attempts to stabilize production, output declined, leading to reduced availability and heightened concerns among traders and end-users. Stocks were quickly depleted, and supply chain inefficiencies further delayed shipments, placing consistent upward pressure on prices.
 

Patchouli Oil Price Chart

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As the year progressed, patchouli oil continued to face supply-side challenges. Weather-related issues persisted in key growing regions, while delays in crop recovery limited any significant rebound in production. Although digital and financial inclusion initiatives were introduced to support producers, these measures yielded limited short-term benefits. The supply shortage persisted well into the second half, sustaining tight market conditions.

The constrained supply, coupled with stable and growing international demand, particularly from the fragrance and personal care sectors, contributed to a steady rise in patchouli oil prices throughout 2024. Market participants faced increasing difficulty in securing contracts, and the overall tone remained bullish. By year-end, patchouli oil prices reflected both structural supply limitations and continued downstream demand, keeping the market in a state of imbalance and price volatility.

Analyst Insight

According to Procurement Resource, the Patchouli oil price curve is expected to show similar movements in the coming months until the supply disruptions see improvements.
 

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 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.