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Article: Bergamot Market Strengthens Bad Weather Tightens Supply.(Bergamot oil prices)
- Article from:
- Chemical Market Reporter
- Article date:
- June 1, 1998
- Author:
CopyrightCOPYRIGHT 1998 Schnell Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Bergamot oil prices are moving up because of poor weather and strong demand, and dealers expect them to remain firm until the next crop, around the first quarter 1999.
Prices for bergamot oil range from $27 to $38 per pound, depending on quality and origin, Italy is the oil's main producer, and drought conditions have reduced that country's crop.
"The bad weather won't affect supplies until early next year, but the damage has already been done," a trader says.
"Because Italy is the major producer of this product, the success of its crop dictates availability," explains another dealer. "A bit is produced in Argentina, but it is not enough to pick up the ...