Cosmetics and Detergents | Market report preview 10.2023

THE MOST UPDATED FINANCIAL PUBLICATION ON THE WORLD OF CHEMISTRY
MARKET REPORT
COSMETICS & DETERGENTS
OCTOBER 2023

ARGAN OIL
Argan oil is the oil extracted from the seeds of the Argania
spinosa, endemic in the south of Morocco.
As with all natural materials, the price is highly dependent
on the seasonal and geographical changes.
In the previous months we have seen bad weather
impacting the availability and the quality of the crop. We
have seen transport prices going up as well. Between Q1
and Q2/2023 the prices of argan oil for cosmetic use have
tripled (from 20-25USD/kg to more than 60USD/kg).
Then the few remaining availabilities are running out; it will
be necessary to jump to August/September, after the new
harvest to have a reduction of the prices. The forecast for
Q4/2023 is a stable cost.
Unfortunately, due to the recent tectonic events in Morocco,
it is anticipated that the situation in the argan trade could
suffer significantly in the coming months.
It’s still too early to make predictions, but the situation is
not promising.
WHITE MINERAL OIL
This product provides solutions in a broad range of
markets, including personal care, food, and pharmaceuticals.
White mineral oils are hydrophobic, tasteless, odorless, and
colorless.
These products are chemically and biologically stable, noncomedogenic,
and do not support pathogenic bacterial
growth.
In personal care, white mineral oils lubricate, smooth,
soften, protect, and moisturize in many formulations.
They can be found in products ranging from baby oils and
lotions to sunscreens.
The price of white mineral oil decreased in the first months
of this year.
Now it’s quite stable but still higher than in 2021 and 2022.
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ECONOMIC INSIGHTS
In partnership with USI, Università della Svizzera Italiana
Persisting bottlenecks affecting global
value chains together with rising energy
prices contributed to an increase
in average price levels. Moreover,
economic uncertainties related to the
Russian invasion of Ukraine have
exacerbated the precariousness of a
stable recovery triggering global ripple
effects through commodity markets,
trade, financial flows, and displaced
people. In the last quarter of 2022, the
average inflation rate among OECD
countries was 1.52% relative to the
previous quarter, and 10.13% relative
to the previous year. Switzerland
and China stand out as (relatively)
low inflation countries. The OECD
economic outlook expects annual
inflation to decrease sharply in the
coming quarters, due to the tightening
of monetary policy by the ECB
and the Fed. The OECD economic
outlook expects annual inflation of
OECD countries to gradually decline
throughout 2023, reaching 5.5%
towards the end of the year, and to
decrease to 5% by the end of 2024.
8

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