In Vietnam, basil oil volume in 2022 is predicted to be insufficient to meet market demand.
In the 2021 crop, Vietnam's basil oil volume is about 7-8 tons. According to the export report, the basil oil consumption in recent years is about 20 tons/year and 22.6 tons in 2021. The 2021 export basil oil volume includes the 2021 yield volume and the residual oil from previous years of about 15 tons.
In 2022, basil is sown in January and planted in March. If growing well, it will be harvested 3 times. The first time is in June, the second time is in August and the third time is in October. In April and May, it rains a lot and this is not favorable weather for harvesting basil. If the rain condition continues in June, the yield volume might be lower than normal. Based on the planted area, the basil oil volume this year is expected to be about 10-12 tons. However, the old basil oil inventory is not much, so the basil oil volume in 2022 is predicted to be insufficient to meet market demand.
Currently, the basil oil price is still at a stable level, there has not been much fluctuation.