Latest News | Covid Scare Pushed Up Trade of Aromatic and Medicinal Oils by 20 Pc: Industry Body

Indore, May 25 (PTI) The annual business of aromatic and medicinal oil has increased by around 20 per cent to reach the level of Rs 15,000 crore in the last two years, mainly on the back of rising demand across the world amid COVID-19 pandemic, an industry body said on Wednesday.

"The demand for medicinal oil being produced in the country has increased world over after the pandemic scare. The total trade of aromatic and medicinal oils has reached to an annual level of Rs 15,000 crore and it is estimated that it will increase by 10-15 per cent every year," Essential Oils Association of India (EOAI) president Yogesh Dube told reporters here.

Also Read | Meta Releases AI Platform To Develop Prosthetics Along With Realistic 3D Avatars.

He said that besides America and Europe, the aromatic and medicinal oils are also in high demand in the UAE and Saudi Arabia-- the two major exporters of the commodity.

Dube also informed that Essential Oil Association's International Congress & Expo-2022 will be held in Indore from Thursday-Saturday, in which 1,000 delegates from India and abroad will take part.

Also Read | Vivo X80 Series Now Available for Sale in India, Check Offers Here.

The conference is being organised in Madhya Pradesh for the first time, he said, adding that with the availability of herbs in abundance in the state, their processing can give a fillip to the local economy.

Shaktivinay Shukla, director of the central government's Kannoj-based Fragrance and Flavour Development Centre (FFDC), said that world's 90 per cent mentha is produced in India and the country has the potential to produce even more.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)