4/29/22: Shipping out of Indonesia has become very difficult due to lockdown policies. Most products coming from that region should expect delays due to shipping.

4/7/22: The La Nina effect continues to play a role in Indonesia as we enter the “dry season,” and rain is predicted to continue over the next 3 months. From April to June of 2022, most regions of Indonesia are expected to experience moderate rainfall, with certain regions experiencing a 14% increase over their monthly average. This will have an adverse effect on many Indonesian crops including clove, clove residue, nutmeg, and other regional products.

11/5/21: Nutmeg oil has increased in price due to a combination of high demand, increasing freight costs, and a shortage of supply. The nutmeg harvest this year was not substantial enough to meet current demand and prices are expected to continue moving upwards over the coming months.

9/2/21: Prices for material have continued to move up; challenges at sourcing locations may be a contributing factor here.

8/26/21: High demand for nutmeg continues to drive prices upwards. Production of the crop has also been greatly reduced in certain regions, which has driven prices even higher than normal.

3/16/21:Indonesia remains the largest producer of nutmeg oil in the world. For farmers, Nutmeg is a cash-crop that provides two possible markets to compete in: Immature nutmegs for oil (5 month old material) and mature fruits for spice (9 month old material). Indonesia typically exports about 200-250 MT of material per year.

However, in 2020, Indonesia only exported about 170 MT. Inventory has remained strong, despite the decreased production, and sales have been slow at the source. As a result, these prices are not considered sustainable and production of the oil has since been reduced. Farmers will likely start dedicating more oil to the spice market and the availability of oil will diminish as a result, driving prices upwards.