The price of mint oil, both peppermint and spearmint, has gone up sharply since the recession that started at the end of 2007. The chart shows the value of U.S. mint oil production from 2000 through 2012. Much of the increase has been due to the increased price of mint oil and not increased production. In fact, the production of peppermint oil fell over this period by 6.7% while the total value of the peppermint oil produced rose by 108%. Spearmint oil production over this period grew by 8.7% and the value of that oil grew by 134%.

Today’s market size is the number of pounds of peppermint oil produced in the United States in 2000 and 2012 and the value of the oil produced each year.

Geographic reference: United States
Year: 2000 and 2012
Market size: 7,063 pounds valued at $76.28 million and 6,592 pounds valued at $158.86 million respectively
Source: Crop Values – 2012 Summary, February 2013, page 43 and earlier reports in this annual series. These reports are produced by and put out annually by the United States Department of Agriculture, accessible in multiple formats on their website here.
Original source: USDA
Posted on May 24, 2013