CURRENT MARKET SCENARIO OF JATAMANSI(Nardostachys grandiflorai)

About Jatamansi

Jatamansi (Nardostachys jatamansi, syn. N. grandiflora), commonly named as Spikenard is one of Nepal’s most commercially valuable and utilized species of medicinal plants. The Nardostachys jatamansi is listed in CITES Appendix II in 1997 and it is critically endangered category of IUCN Red list. It is banned in export outside the country except the processed product under the permission of the Department of Forests. Nepal government has established a quota system for harvesting of Jatamansi. Every year 100–350 tons of rhizomes are harvested from high altitude Himalayan regions.

What happened in 2022?

Nepal stands as the sole global supplier of Jatamansi, offering this valuable resource exclusively to the international market. The ideal collection period of Jatamansi is September to November. In 2022, the ideal harvesting period for Jatamansi, was over-shadowed by legal proceedings initiated by the local collectors in Nepal. The collectors demand a shift in the authority to issue Jatamansi collection permits from the central government to district or local authorities.

Responding swiftly, the Supreme Court imposed a stay order on Jatamansi collection for the upcoming season, pending a final decision. This restriction, issued just before the start of the collection season, substantially limited both collection activities and subsequent market availability of Jatamansi.

“The price of Jatamansi has risen by 30%, and it is predicted to rise by as much as 50% come September 2024.”

After 2022

When the court finally presented its decision in December 2023, it declared that local resources belong to the local government by principle. With this decision emerged a major change in the balance of power, giving districts and local governments ore control over the administration of natural resources like Jatamansi. The consequences of the stay order were severely felt as it lasted until December 2023, well beyond its’ prime collection period. As a result, before the legal blockade ended, the opportunity of the ideal Jatamansi collection period was elapsed. Compounding the issue, as the snow season commenced, collection activities became difficult and less Jatamansi was gathered overall. In addition, the harvesting yield of the Jatamansi was negatively affected by the delayed collection, which heightened the market's shortage of this valuable resource.

Current Market Situation

The complex legal process and delayed decision significantly impacted the jatamansi market worldwide along with Nepal. The untimely imposition of the stay order and its subsequent lifting significantly impacted the timeliness of collection, resulting in a reduction of the amount of Jatamansi available for processing. The adverse effects of delayed collection were further portrayed by diminished yields, ultimately contributing to a market scenario characterized by shortage and inflated prices. As of right now, the price of jatamansi has risen by 30%, and it is predicted to rise by as much as 50% come September 2024, when the next collection season begins.

Note:

For any additional information or to obtain a price of this product, please contact us by email (info@aromaoils.com.np).